The Lazio Tax Court rejected UniCredit’s appeal for a €399.6 million tax refund. The bank sought to recover taxes paid in 2014 regarding the revaluation of its Bank of Italy stakes. The court also ordered UniCredit to pay all associated legal costs.
This ruling follows a 2023 Constitutional Court decision upholding the legitimacy of the tax rules. Similar tax regulations previously impacted other financial institutions, including Generali and Carige. The final decision ends UniCredit’s efforts to recover the substantial sum.