Jurisdiction
For products sold in Italy
Law Summary
This specific provision within a 2020 Italian decree allowed companies using Italian GAAP standards a one-off option to revalue certain business assets (tangible, intangible, participations) in their financial statements. Paying a substitute tax enabled this step-up for tax purposes, affecting future depreciation/capital gains.
Law Obligation
- Companies must report their global energy use and carbon emissions in annual reports.
- Organizations must disclose energy efficiency actions taken during the reporting year.
- Businesses must include intensity metrics relating to emissions.
