Private equity funds, permanent establishments and Italian operations

• Autores: Emidio Cacciapuoti
• Localización: European taxation, ISSN 0014-3138, Vol. 47, Nº. 4, 2007, págs. 168-177
• Idioma: inglés
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• Resumen

  • This article first considers the implications of the recent Philip Morris case and undertakes an in-depth investigation of the legal structure and operations of private equity funds in Italy. In relation to this, the author then analyses the circumstances under which, according to Italian and international tax rules, a non-resident person may be deemed to have a permanent establishment (PE) in Italy. Finally, the implications of the allocation of profits to a PE are considered.