The Cura Italia Decree entitles companies that sell NPLs to third parties by 31 December to convert DTAs into immediately usable tax credits – even if the DTA in question is not recorded in the financial statements.

The tax credit can be: (a) used to pay taxes, withholding taxes and social security contributions; (b) sold (intra-group or to third parties); or (c) claimed as a tax refund.

If you would like a copy of the breakdown of the liquidity measures prepared by our Tax team, in coordination with the Covid-19 Task Force, just email covid19@belex.com.