- The Italian Revenue Agency determined that transferring bond debt within a corporate group is subject to registration tax, not VAT
- The parent company replaces another group company as the bond issuer and receives funds to meet obligations
- The transaction is classified as a liberatory assumption and is not relevant for VAT
- The Revenue Agency’s rationale is that there is no reciprocal performance between the companies involved
- The transaction is subject to a 3% registration tax based on the market value of the bond
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
