A decision of the Italian Supreme Court sets out guidance on the criteria to be considered when deciding whether a non-resident holding company qualifies as the “beneficial owner” of dividends distributed by an Italian subsidiary.
The high court held that the lack of an organizational structure and employees, coupled with limited operating costs and receivables, does not in itself prevent a holding or sub-holding company from qualifying as the “beneficial owner” of dividends for income tax treaty purposes.
Read a March 2017 report [PDF 172 KB] prepared by the KPMG member firm in Italy
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