If stamp duty is payable, is it normally shared?
Frequency/market practice: In the sale of a business, stamp duties are generally borne by the buyer. In the share sales, registration taxes (in case of S.r.l.s target companies) or the so-called Tobin Tax (in case of S.p.A.s target companies) is generally borne by the buyer.
Is a separate tax covenant/indemnity or tax deed common?
Frequency/market practice: Although in the last years the Italian market is more open towards the concept of separate tax covenants/indemnities, they are generally included in the acquisition agreement (as opposed to having separate tax deeds).