Italy: Removal of income tax break for market value stock options

The Law Decree N° 223 removes on July 4, 2006 the tax break which was available on the exercise of market value options by Italian employees.
Even being effective, something can still be done to change tings. The effectiveness of the Law Decreee will only last for a period of 60 days. In order to become definitive, the provisions of the Law Decree must be implemented by the Italian Parliament through an ordinary law. However, the Parliament might amend or delete the Law Decree's provisions, in response to lobbying activities.

 Letter to Romano Prodi
This is the letter we sent to Romano Prodi and to Tommaso Padoa Schioppa, Minister of Economy and Finance, and to all members of the Italian Parliament.

 Information
10.07.2006: Email alert from Allen & Overy

For information and contact
EFES - EUROPEAN FEDERATION OF EMPLOYEE SHARE OWNERSHIP
FEAS - FEDERATION EUROPEENNE DE L'ACTIONNARIAT SALARIE
Avenue Voltaire 135, B-1030 Brussels
Tel/fax: +32 (0)2 242 64 30
E-mail: efes@efesonline.org
Web site: www.efesonline.org
EFES' objective is to act as the umbrella organization of employee owners, companies and all persons, trade unions, experts, researchers, institutions looking to promote employee ownership and participation in Europe.