
Article 1 
The derogatory tax scheme implemented by Italy under Article 2(26) of Law 350/2003 constitutes State aid and is incompatible with the common market.
Article 2 
Italy shall repeal the scheme referred to in Article 1.
Article 3 

1. Italy shall take all necessary measures to recover from the beneficiaries the aid granted by payment of the substitute tax foreseen by Article 2(26) of Law 350/2003 in relation to the fiscal recognition of the capital gains resulting from the reorganisations carried out under Law 218/1990 and unlawfully made available to the beneficiaries.
2. The amount to recover shall be limited to the difference between the tax which would have been paid had the aid beneficiaries applied the tax revaluation scheme according to Article 2(25) of Law 350/2003 and the one paid according to Article 2(26) of the same Law.
3. Recovery shall be carried out without delay and in accordance with the procedures under national law, provided these allow the immediate and effective implementation of this Decision.
4. The sums to be recovered shall bear interest throughout the period running from the date on which they were put at the disposal of the beneficiary until their actual recovery.
5. Interest shall be calculated in conformity with the provisions laid down in Chapter V of Commission Regulation (EC) No 794/2004 of 21 April 2004 implementing Council Regulation (EC) No 659/1999 laying down detailed rules for the application of Article 93 of the EC Treaty.
Article 4 
Italy shall inform the Commission, within two months of notification of this Decision, of the measures planned or taken to comply with it. It will provide this information using the questionnaire attached in Annex I of this Decision. Italy shall inform within four months of notification of this Decision of the measures taken to execute it.
Article 5 
This Decision is addressed to Italy.
Done at Brussels, 11 March 2008.
For the Commission
Neelie KROES
Member of the Commission
ANNEX I
1.  1.1. 

— The principal
— The interests
 1.2. What is the total amount of unlawful aid granted under this scheme that is to be recovered (gross aid equivalents; prices of …):
 1.3. What is the total number of beneficiaries from which unlawful aid granted under this scheme is to be recovered:

2.  2.1. Please describe in detail what measures are planned and what measures have already been taken to effect an immediate and effective recovery of the aid. Please also indicate where relevant the legal basis for the measures taken/planned.
 2.2. By what date will the recovery of the aid be completed?

3. 
Please provide details for each beneficiary from whom unlawful aid granted under the scheme is to be recovered in the table overleaf.


Identity of the beneficiary Amount of unlawful aid grantedCurrency: … Amounts reimbursedCurrency: …
  
  
  
  


