Our Spotlight series highlights the careers and lives of tax professionals across the globe. This week’s spotlight is on Massimo Petrucci, a tax adviser, auditor, and lawyer at bureau Plattner, where he manages offices in Milan and Merano, Italy. Petrucci assists international groups in mergers and acquisitions transactions and special projects with a particular focus on Asia.
As a partner in the firm, Petrucci has worked during the pandemic to battle the negative effects of social distancing and ensure that team members working from home stay connected and foster social interactions.
What’s your official title and what does it mean? Managing partner. I am an equity partner at the firm, managing the offices of Milan and Merano.
Free time: book, audiobook, or podcast? I read mainly books. This has been my hobby since I was very young.
Tax is a huge subject. What’s your area of special interest? M&A.
What’s the last movie or show that you watched and loved (DVD, Netflix, or in the theater)? “The Lawyer’s Devil” (known in the USA as “The Devil’s Advocate” starring Al Pacino and Keanu Reeves)—an old movie, but always enjoyable.
What college did you attend and what did you study? I studied law at the University of Trento, Italy, and got an MBA from HEC Paris.
Go to pick-me-up: Coffee or tea? Coffee in the morning is a routine. Tea with my wife when we have time to enjoy, free of obligations.
What’s the best tax or financial advice that anyone ever gave you? Always study the principles, the basic rules; based on that you can find solutions for most cases.
If you weren’t working in the tax profession, what would your dream job be? I think I would write books.
If you had the opportunity to make one change in the tax code—an extra credit, a disallowed deduction, whatever—what would it be? Simplify the system, reducing the number of taxes.
Favorite food, snack, or candy during tax season (or other busy time)? Ice cream in summer.
What tax news or move made the most impact on your practice or clients this past year? Tax revaluation of assets. In the last year, the Italian government approved several stimulus packages in order to sustain the economy affected by Covid and lockdowns. Such packages have granted to companies interesting benefits, including the possibility to re-evaluate assets from their historical value to their current market value, and the right to apply depreciation and amortization based on such new value, with the payment of a 3% substitute tax.
If Uncle Sam handed you a big tax refund check right now, what would you do with it? Here, in Italy, it takes time for tax refunds, so I believe I will have to plan something for my retirement. (That’s a little joke …)
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