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CMS | Newsletter Italy 19 Feb 2016

New legal and tax measures to facilitate the selling off of non-performing loans

19/02/2016

Italian Law Decree no. 18 of 14 February 2016, published in the Official Gazette on 15 February 2016 (the “Decree”) provides for urgent measures, already in force, related to, inter alia, the Italian State guaranty scheme (so called “GACS”) for the senior tranches issued in the course of securitization transactions of NPLs, or to the tax regime for the purchase of properties in the course of enforcement procedures.

The Italian Ministry of Economics and Financial affairs (“MEF”) is authorized to grant the GACS for a period of 18monthsstarting from the entry in force of the Decree, meaning 16 February 2016, which can be extended for further 18 months, subject to the European Commission approval.

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CMS | Newsletter Italy 19 Feb 2016
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Authors

Picture of Paolo Bonolis
Paolo Bonolis
Partner
Rome
Picture of Federico Raffaelli
Federico Raffaelli
Partner
Rome