In the second half of 2014 the Commission developed a second wave of State aid proceedings pursuant to Article 107 and 108 of the Treaty on the Functioning of the European Union (TFEU) with respect to measures affecting the relocation of taxable bases of MNEs within their EU operations.
The European Commission has authorised, under EC Treaty state aid rules, the creation of urban tax-free zones in certain parts of Italy. The aim of the measure is to encourage the regeneration of particularly deprived areas.
The European Commission, with a Decision of September 6, 2005 declares that Italian Tax incentives to UCITS specialised in shares of small and medium capitalisation companies listed on regulated markets are incompatible State Aid.