I transaction costs

Author: Angelo R. Bonissoni

Leveraged Buy-Out has represented, and still represents, the reference legal and financial framework adopted by Italian and international practice for the completion of company acquisitions. Over the time, this scheme has undergone significant changes as a good number of regulations have been enacted to standardise its functioning. Often praised as considered the tool to solve many worries of companies and shareholders. Likewise, it has often been blamed as the cause of trouble for those companies in which it was adopted. The relationships with public authorities are rooted in this scenario of lack of clarity and knowledge of LBO transactions. These are generally carried out in accordance with a recurring basic scheme affording the variety of costs deriving from the professional services provided by the various parties involved. This book analyses the accounting regime (OIC and IAS / IFRS) and tax (IRES, IRAP and VAT) of these costs in a detailed and exhaustive manner, based on a strict scientific and systematic approach, also focussing on the potential consequences of merger transactions, and provides in-depth sights on the specific features of the taxation applicable to the aforementioned corporate vehicles. The attached CD-Rom offers a comprehensive review of Italian and European case law, the positions of the tax authorities and the scholars.