23.7.92 Official Journal of the European Communities No L 207/47 (Acts whose publication is not obligatory) COMMISSION ‘ COMMISSION DECISION of 25 July 1990 ' concerning the State aid provided in for in Decree-Laws No 174 of 15 May 1989 and No 254 of 13 July 1989 and in draft Law No 4230 regularizing the effects produced by the abovementioned Decree-Laws (Only the Italian text is authentic) (92/389/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, and in particular the first subpara- graph of Article 93 (2) thereof, Having given the interested parties the opportunity to submit their comments pursuant to Article 93 and having regard to those comments, Whereas : I By letter dated 23 December 1988, the Italian Govern- ment notified the Commission of draft Law No 3435 on tax measures to promote the reorganization of manufactu- ring industry. The Commission requested the Italian authorities by letter dated 1 March 1989 for further information required for the assessment of the draft Law. By letter dated 20 April 1989, the Italian ‘Government replied in part to the questions. By letter dated 26 May 1989, the Italian Government sent the Commission the text of Decree-Law No 174, published in the Gazzetta Ufficiale della Repubblica Italiana of 15 May 1989. By telex massage dated 14 June 1989, the Office of the Italian Permanent Representative answered the questions posed by the Commission which had not been answered before. Decree-Law No 174 provided that the transfer to existing companies or companies to be created of businesses, busi- ness units relating to various branches of a company, and other depreciable tangible and intangible assets, as well as’ of shares and other participating interests, carried out by companies in existence at the time of the entry into force of this Decree is to be subject until 31 December 1990 to the system whereby 75 % of the difference between the value of the shares and other participating interests received and the final value of the assests transferred does not form part of the taxable income of the transferring company, provided that it is entered in the balance sheet and clearly shown under a separate heading or in the appropriate notes, until such time as it is realized, distri- buted to shareholders, used to increase capital or to cover operating losses, while the balance forms part of taxable income either, at the choice of the transferor, for the entire year in which the transaction takes place or in regular instalments in the same year or over the next four years. Transfers must contribute to the in-depth restructuring of national industry and to the development of industrial production. The CIPE (Interministerial Economic Plan- ning Committee) determines whether transfers satisfy those requirements. The increase in the capital of the company or the capital of the existing company to be set up must exceed Lit 50 000 million. On 13 July 1989 the Italian Government adopted Decree-Law No 254, which is identical in content to Decree-Law No 174 and was published in the Gazzetta Ufficiale of 15 July 1989.