On 9 April 2024, the Italian Council of Ministers approved, during a preliminary exam,[1] the draft of a legislative decree aimed at introducing new provisions expressly dedicated to trusts (the Decree).

The Decree is part of a broader tax reform project that has been carried out by the Italian government over the past year. The project aims to simplify the current tax system, reduce the tax burden on individuals and businesses, stimulate investments and new hiring, and promote a more cooperative, dialogue-oriented relationship between taxpayers and the Italian tax authorities.