Strumenti finanziari “ibridi” e derivati: aspetti civilistici e fiscali dei derivati incorporati nei titoli “ibridi”

Part of the paper focuses on “hybrid” financial instruments, identifying their origin and the essential elements connoting the figure, with the aim of examining the issue relating to derivative financial instruments embedded in “hybrid” securities. With respect to embedded derivatives, it should be noted that the new accounting standard OIC no. 32 and IFRS no. 9 introduced a relevant discipline in order to simplify its classification in the financial statements. The examination of these accounting principle is preparatory to the subsequent analysis relating to the fiscal relevance as well as to the discipline reserved for the accounting separation of “embedded” derivatives in “hybrid” financial instruments, highlighting the debate that arose in the doctrine. Finally, a dutiful reference to the Ministerial Decree is made. 10 January 2018 which put the word “end” to the aforementioned debate that arose in the literature.