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New VAT e-commerce rules
Due to the practical difficulties created by the COVID-19 pandemic situation, the application of the new VAT e-commerce rules has been postponed by six months. Thus, the rules will apply as of 1 July 2021 instead of 1 January 2021, giving Member States and businesses additional time to prepare. The VAT e-commerce package aims at […]
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Sanitization bonus: variation in the percentage of maximum usable credit
The Revenue Agency, with provision no. 302831 of 11 September 2020, had determined the percentage of the credit actually usable as the ratio between the allocated resources, initially equal to 200 million euros, and the total amount resulting from the communications sent by taxpayers by September, 7, 2020. This percentage was 15.64%. The converted (L. […]
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Extension of the rental bonus for tourist facilities
The rental bonus, introduced with the “Decreto Rilancio” (art. 28 of Law Decree no. 34/2020), provides for the recognition of a tax credit in relation to rents on non-residential properties used in the exercise of business, art, and profession if in 2019 the sum of revenues and fees is not more than Euro 5 million. […]
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The Superbonus 110% for the non-resident individuals
Non-resident individuals who own real property in Italy can benefit from the deductions included in the so-called “Superbonus 110%” if they incur expenses for subsidized renovation activities. The possibility, for non-residents, to benefit from the aforementioned tax credit has been confirmed by the parliamentary inquiry no. 5-04433 of July 22, 2020, and by the circular […]
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Indirect e-commerce: new clarifications released by the Tax Authority
With the opinion n. 416 of September 28, 2020, the Italian Tax Authority provided certain clarifications regarding the electronic storage and transmission of the daily revenues from indirect e-commerce. Considering that daily revenues from the indirect e-commerce transactions with final consumers are generally exempt from certification (provided that the customer does not require the invoice) […]
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Composition with creditors and bankruptcy procedure
With ruling n. 17532/2020, the Italian Court of Cassation reiterated that the filing of the application for a composition with creditors prevents the declaration of bankruptcy up until the events indicated in articles 162, 173, 179 and 180 of the Bankruptcy Law occur, but does not determine the inadmissibility of the pending insolvency proceedings commenced […]
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Superbonus 110% transferable to buyers and heirs holding the property
The “increased” deduction of 110%, relating to the interventions defined in Art. 119 of the Relaunch Decree, is transferable to the purchaser in the event of sale of the property or to the heir who materially holds it following the death of the holder of the deduction. In the event of the sale of a […]
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Suitable organizational structures and “231 models”: the new concept of corporate governance
At a first glance, the company’s system of criminal liability pursuant to Legislative Decree no. 231/2001 and the new rules on insolvency proceedings pursuant to Legislative Decree no. 14/2019 (Code of Company Crisis and Insolvency) do not have common grounds. In truth, both disciplines are inspired by innovative conception of a proactive approach to counter […]
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The “cedolare secca” tax regime and rents of immovable property for business: contracts renewed in 2019
The “cedolare secca” tax regime on rents for business use arising from contracts entered into or renewed in 2019 is also applicable to years subsequent to the first if the taxpayer has not opted for this regime when registering or renewing the contract. This is what emerged from answer number 388 of 22 September 2020 […]
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Sanitization bonus: defined percentage of use and tax code
With a provision issued on July 10th 2020, the Revenue Agency had defined the criteria and methods for the application of the tax credit for the sanitization and purchase of personal protective equipment, introduced by the so-called Decreto Rilancio – Decree no. 34/2020. Among the criteria established there was the possibility of benefit from a […]
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The arbitration clause is not applicable in the event of liability action brought by the liquidator pursuant to Article 146 of the Bankruptcy Law
The Court of Cassation, with the order in question, has ruled that should the receiver exercise an action for liability pursuant to Article 146 of the Bankruptcy Law, the arbitration clause contained in the articles of association of the bankrupted company shall not apply for the purposes of devolving the dispute to arbitration. Article 146 […]
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Contracts with written form ad probationem, the objection pursuant article 2725 cannot be declared ex officio
On the limitations of witness evidence in contracts has returned to pronounce the Supreme Court that, in a recent statement (No. 16723 of 31st August 2020), has reviewed the codicistic discipline analyzing the different attitudes of the objection of inadmissibility of witness evidence in contracts where the written form is required ad substantiam and in […]
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New recovery fund for travel agencies and tour operators
A new recovery fund for the COVID-19 emergency has been provided by the Italian Government for travel agencies and tour operators. The fund can be obtained by those companies whose activity is identified by the ATECO codes: 79.1, 79.11 e 79.12. Some requirements are demanded in order to receive it. The application can only be […]
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Establishment of the tax code 4050 for the payment of suspended withholding taxes
With resolution no. 50/E of 7th September 2020, the Inland Revenue established the tax code “4050” for the payment of suspended withholding tax by withholding agents between 17th March 2020 and 31st May 2020. The suspension, introduced by Article 19, paragraph 1, of Decree-Law no. 23 of 2020 (the so-called “Liquidità”), provided for the possibility […]
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Golden Power and the conversion into Law of the Liquidity Decree
The spread of the Covid 19 epidemic has resulted in a significant extension of the special powers attributed to the Government in terms of protecting strategic assets from predatory acquisitions by foreign investors (and not only). With the D. L. n. 23/2020 (the “Decree”) of the last 8 April, the Government strengthened its Golden Power […]
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Stop internal EU rules limiting VAT corrections
The European Court of Justice, in Case C-835/18, held that national VAT rules which prevent, or make it excessively difficult for a taxpayer, to correct and claim a refund of the tax incorrectly charged on the invoice are unlawful because they are contrary to European rules and the principles of fiscal neutrality, effectiveness and proportionality […]
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The heir can access the data of the insurance policies stipulated by the deceased
That is what has been established by the Tribunal of Treviso with a ruling of February 27th, 2020, in a case pertaining a heir to whom the insurance company had opposed the impossibility of communicating the names of the beneficiaries of the policies stipulated, while alive, by the deceased person. In fact, it has to […]
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The healthcare company is directly responsible for the culpable conduct of the personnel working at its facility
The Court of Cassation, with ruling no. 13869/2020, returned on the discussed issue of the responsibility of the healthcare company for the damages suffered by patients as a result of the negligent conduct of doctors and professionals employed at the healthcare facility. The case dates back to 2002, and sees as opposing parties the parents […]
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Considerations and news on the business judgment rule
The business judgment rule is a rule, of Anglo-Saxon derivation, created by jurisprudence, constantly applied in judgments concerning the liability of directors in corporations (Articles 2392 and 2476 of the Italian Civil Code). The liability of directors is a culpable liability, so that the director can prove that he is not liable by providing positive […]
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Non-performing VAT receivables and credit notes: terms of issue defined by “August” Decree
Faster recovery times for non-performing VAT credits. This is what was provided by Article no. 90 of “August” Decree, approved by Council of Ministers, which will rewrite the wording of Article no. 26 of Presidential Decree no. 633/72, regarding terms for issuing VAT credit notes. With regard to bankruptcy proceedings, VAT credit notes will be […]
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