The tax relief of income deriving from investments in the real economy, provided for by the 2017 budget law for pension funds and social security funds, represents for Assoprevidenza a useful step for the country. “With this provision – stated President Sergio Corbello today during a meeting with journalists – on the one hand important resources are directed towards the productive economy, on the other we are approaching European tax legislation, which does not provide for taxation for the returns of pension funds and professional funds".
Law 232/2016 provides for a preferential tax regime for the income of pension funds and professional social security funds obtained as a result of investments in shares or quotas of companies resident in Italy or in the European Union but with a permanent establishment in Italy.
Investments may be direct or through collective asset management instruments such as investment funds or sicavs, which must also be resident in Italy or in the EU. The investments must be maintained for at least 5 years.
The maximum portion of the assets that can benefit from the tax relief is 5%, calculated as at 31/12 of the previous year. From this point of view, the possible use of PIRs by pension funds and professional funds would also be interesting, simplifying the access of pension investors to the real economy. This hypothesis involves a legislative intervention of a nature
corrective
