In December 2025, amendments were issued concerning:

• amortisation of intangible assets;
• purchase of goods with resale options;
• discounting of dismantling and restoration provisions;
• substitute tax on the revaluation of reserves: the tax liability must be recorded in equity, not in the income statement.

In June 2025, the new OIC 30 on interim financial statements was also published.

These changes apply from 2026 but may be adopted early in the 2025 financial statements.

OIC Not Yet Final

• The new OIC 5 on liquidation financial statements has not yet been finalised (only the 2024 draft is available).

End of COVID Derogations
For 2025 financial statements, the COVID-related derogations no longer apply regarding:

• suspension of depreciation,
• going concern assessment.

Derogation Still Valid for Current Asset Securities
The derogation allowing companies to avoid writing down securities (when there is no permanent impairment) remains valid for 2025 and 2026.

Mandatory: allocate to a non-distributable reserve an amount equal to the avoided impairment.

The draft OIC 12 is open for consultation until 12 March 2026.

Sterilised Losses from 2020
The five-year period for sterilising 2020 losses ends.
Therefore, in 2025 these losses must be addressed (coverage, share capital reduction, etc.).

Tax Updates from Legislative Decrees No. 192/2025
To be considered for the 2025 financial statements:

• new tax rules on the correction of accounting errors;
• extension of the enhanced derivation principle to micro-enterprises.

These provisions apply to financial years starting on or after 1 January 2025.

Disclosure on Public Grants
The rules remain unchanged compared to last year.
The expected repeal of Art. 125-bis of Law 124/2017 has not been confirmed.

Non-Financial Reporting
Sustainability reporting requirements have been simplified at the European level.

Shareholders’ Meetings for Approval of Financial Statements
Until 30 September 2026, simplified procedures may still be used for:

• remote shareholders’ meetings,
• voting without physical attendance.