The shareholders’ loan needs a special minute

The loans of the shareholders can be opposed to the tax authorities only if provided by a special minute and then accounted accordingly. If not, it can be considered as  hidden profit for the company.

This is what the Court of Cassation has stated with ordinance no. 24746 of November 5th  2020.

The Court of Cassations stated that the absence of the shareholders’ minute could not be considered as a simple formal irregularity, but it represents a fundamental accounting element in order to qualify the transfer of money as a shareholders’ loan, also for tax purposes.


Marco Cerutti