New Limit for the Deduction of Interest Expenses Applicable from Fiscal Year 2021 and General

Starting from fiscal year 2021, pursuant to the provisions of subsection 1), paragraph a) of Article 37 of the Income Tax Law ("LIR"), as amended by Legislative Decree No. 1424, interest generated from borrowings will be deductible only to the extent that it does not exceed 30% of the taxable +EBITDA of the previous fiscal year.