Italian PIRs, saving plans

The Budget Act 2017 (Legge di Stabilità 2017) has introduced the possibility for asset managers to establish tax-exempt investment plans at no extra costs for individual retail investors (piani individuali di risparmio or PIR), the Italian equivalent of the French plans d’épargne and the UK individual saving plans.

The objective is to channel family savings into long-term investment schemes in order to encourage the growth of Italian business.

Read more on this special tax treatment on the document attached (in Italian). Andersen & Legal experts are at disposal for any further info.