More than 110 representatives of the Italian business community attended, among them, Fabio Morvilli, president of the Camera di Commercio Italo-Lussemburghese, Rita Vullo representing the Italian Embassy, Barbara Alfano representing the Bocconi Alumni Association in Luxembourg, Marco Crosetto and Jacques Linon, respectively audit and tax partners at Deloitte Luxembourg, as well as tax experts from Deloitte Luxembourg and Studio Tributario e Societario (part of Deloitte Italy network).

Introduced by Marco Crosetto, audit partner and coordinator the Deloitte Luxembourg Italian Business Community, the main topics of the conference this year were the recent evolution in fiscal legislation in Italy aimed to encourage foreign investments, the new Italian exit tax provisions, the tax on financial transactions (FTT) and the amendments of the Luxembourg / Italy Double Tax Treaty.

The conference represented once again an important moment for the Italian business community in Luxembourg to share experiences and discuss the current and future challenges.

Everybody seemed to agree that the Italian economic trend of the coming months will strongly depend on the Italian political stability and the resulting market reactions.

The topics discussed at the conference are:

• The introduction of Italian Tax on Financial Transactions that have been approved by the  Italian Parliament in December 2012 and the draft Directive introducing EU Financial Transaction Tax, which will be impacting financial institutions both in Italy and in Luxembourg.
• The current status of the protocol signed on 21 June 2012 to the 1981 tax treaty between Italy and Luxembourg and related features on the exchange of information upon request, as well as the Luxembourg operationally tax diagnostic (LOTD).
• The new financial instruments recently launched in Italy to attract new foreign investments in the project financing field as well in the manufacturing and commercial sector.
• The recent amendment to the Italian exit tax and the related opportunities when thinking about internationalization.  

Marco Crosetto, Jacques Linon, Alberto Morpurgo (Tax directeur, Deloitte Luxembourg), Vilma Domenicucci (Tax senior manager, Deloitte Luxembourg), Mauro Lagnese (Tax partner, Studio Tributarioe Societario) and Luca Ferrari (Tax director, Studio Tributario e Societario), contributed to the success of the conference by presenting their analysis and observations on the subjects mentioned above.

More information about Deloitte Italian business community activities is available on the Deloitte website: www.deloitte.com/lu/italian-business-community