Therefore, the transfers of assets that qualify for the preferential treatment under the Merger Directive are in essence similar to those foreseen by Article 1 of Law 218/1990, except that the Merger Directive does not provide any rules for the valuation of the shares received by the transferee company in exchange of assets, while the use of the substituted basis is expressly foreseen by Article 7(2) of Law 218/1990, thus resulting in a system of double misalignment.
Sen vuoksi sulautumadirektiivin säännökset, joissa säädetään varojensiirtojen edullisesta verokohtelusta, ovat pohjimmiltaan samanlaisia kuin lain 218/1990 1 §:n säännökset.