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Italy Business Deductions Losses Losses can be carried forward up to 5 years. Losses in the first 3 years of operation can be carried forward without a limit against new activities. There is no carryback for losses. Italy Consolidated Returns Consolidated returns are allowed for parent companies with their subsidiaries, when holding 50% or more. Consolidated returns, if chosen, have to be filed at least for 3 years. Italy Interest Expenses In Italy Interest expenses are deductible up to 30% of the income before interest and depreciation. |
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