Summary of the Main Provisions of the "Bersani Decree"

In recent months the Italian government approved an important reform of the taxation of real estate transactions. The so-called Bersani Decree (named for the proposing minister) has had an immediate impact on real estate investors, mainly for the retroactive effects of the new rules. The Italian Parliament converted the decree into law (Law 248 on 4 August 2006) with several changes, after many protests and a heated debate. The new law became effective on 12 August 2006. This Commentary contains several charts summarizing the main provisions of the new law, with particular regard to the transfer of land and buildings, the lease of buildings and businesses, financial leases and construction contracts.

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