Firm’s victory for Salini Impregilo before Regional Tax Court
The team from Tremonti Romagnoli Piccardi e Associati, composed of partner Giancarlo Zoppini and senior associate Laura Puddu, successfully assisted the Salini Impregilo group in a tax dispute concerning the complex issue of realigning the fiscally recognized values of the assets and liabilities of the subsidiaries in the context of consolidated taxation pursuant to art. 128 TUIR (Italian Consolidated Income Tax Law).
The Regional Tax Court of Lombardy, in its ruling (following a referral to the Italian Supreme Court concerning lack of motivation for a ruling in favour of the Italian Revenue Agency) annulled the claim.
In particular, the Court accepted the defence’s argument, according to which the corporate reorganization operations (in the present case various mergers) carried out during the first tax period of application of the group taxation regime, are not considered for the purpose of calculating the realignment, since it is necessary to refer to the accounting and fiscal situation existing at the end of the previous fiscal year/period, without proceeding to the respective algebraic sums relating to the reorganization operations subsequently carried out.