The Italian Parliament approved the Law no. 23 of 2014 in March 2014 empowering the government to enact a partial reform of the Italian fiscal system. The government will adopt legislative decrees for the amendment of the Italian abuse of law and tax avoidance discipline.
The new law will provide a statutory definition of abusing law and will enhance integration of the present anti-avoidance legislation and the case law definition of abuse of law. The new statute will give an acceptable form of the first Italian general anti-avoidance rule (GAAR).
