Italy is to review the way it taxes trust structures, and as part of this, a committee is being put together to consider the current situation and make recommendations.
Among those who have been appointed to participate, as a member of this newly-formed working group, is Giulia Cipollini, the head of the Italian tax practice of Withers, the London-based law firm.
The group is being headed up by Prof Stefano Loconte, a trust expert who is a founder and managing partner of Loconte & Partners, a major Italian tax and corporate law firm.
The team has been put together by Maurizio Bernardo, president of the Italian Chamber of Deputies’ Finance Select Committee, and has been “tasked with considering how to reform the taxation of trusts”, according to a Withers’ statement announcing Cipollini’s appointment.
In addition to Cipollini (pictured) and Loconte, other members of the team include Prof Alberto Lupoi, of Lupoi & Falvo; Massimo Antonini, a partner with Chiomenti Studio Legale; Marcello Valenti, partner, Tremonti Vitali Romagnoli Piccardi & Associates; and tax adviser Mile Perris.
In the statement announcing her appointment, Cipollini – who recently was also named to the board of the Association of International Tax Consultants – noted that the review of the Italian tax treatment of trusts was timely, given the current focus on tax transparency, and the fact that the implementation of the Common Reporting Standard is currently under way globally.