The fiscal discipline of Individual savings plans – introduced on the Italian market in 2017 – has seen significant changes over time. Recently, the 2022 budget law has brought further important innovations: raising the investment limits of ordinary Pirs; loosening the constraints on alternative Pirs; changing for 2022 the rules on the tax credit for capital losses realized in alternative Pirs. On the new discipline, first the Ministry of Economy and Finance, with special guidelines, and then the Revenue Agency, have provided detailed clarifications.
