Italy Issues New Guidance on Transfer Pricing Documentation: New Requirements to Avoid Penalties and (some) Simplification.
Introduction On November 23, 2020 Italian Tax Authorities (“ITA”) issued the Provision no. 360494/2020 (“Provision”) by which it introduced new measures[1] as for the content and validity of the transfer pricing documentation (“TPD”) – to be prepared by Italian resident enterprises and Italian permanent establishments of foreign entities – in order to benefit from the…