The Tax Treatment of Real Estate Securitization in Italy in Light of Ruling No. 132 of 2 March 2021

This note concerns the securitization of assets in Italy. In particular, the authors discuss the history of this increasingly popular financial tool; legislative amendments that have been made, over the years, to the tax regime applicable to securitization; the application of the regime to real estate; as well as a recent tax ruling that confirms, for practitioners, the overall tax treatment of real estate securitization.