Insights

  • Flat-tax regime: Ateco sections relevant for the new impediment

    The Italian IRS, on the 9/E 2019 Circular published on 10 April 2019, analyzed some issues relating to the flat-tax regime, focusing in particular on the new impediment represented by direct or indirect control in limited liability companies which carry out economic activities directly or indirectly attributable to those performed by the owners who are […]

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  • New tax regime for inbound employees

    The Italian Law Decree (so-called “growth Decree”) approved on April 4th, has brought significant changes to the domestic regulations for the relocation to Italy of employees, researchers and professors. The changes made to inbound workers provisions enhance the existing regulatory scenario, introducing incentives and favorable measures in order to boost the attraction and settlement of […]

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  • Time limits for telematic notification

    With sentence no. 75 of April 9, 2019 , the Constitutional Court ruled on the question of constitutional legitimacy promoted by the Court of Appeal of Milan, in relation to Article 16 septies of Decree Law 179/2012, upon which “Article 147 of the Italian Criminal Code also applies to notifications made by telematic means. When […]

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  • Non-binding advisory ruling by the Italian Anti Bribery Authority: How to contest it?

    With decision n. 1622 of March 11th, 2019, the Italian State Council (which is the most important administrative court in the Italian legal system) stated that even a non-binding opinion by the Italian Anti-bribery Authority (hereinafter “ABA”), may entitle the interested person to judicial action, at certain conditions. In fact, regardless of art. 211 of […]

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  • Hyper depreciation with no continuative interconnection required

    The 2019 Budget Law has confirmed for tax year 2019 the hyper depreciation tax regime, which was enforced by the “Industria 4.0” Decree issued by the Ministry of Economic Development (MI.S.E.) in 2017. The hyper depreciation is a tax deduction linked to the purchase of operational assets aimed to the digital conversion of enterprises according […]

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  • The Supreme Court resolves the contrast regarding the starting date of the short term of appeal

    With decision no. 6278 on November 6, 2018 – March 4, 2019, the Italian Supreme Court puts an end to the existing jurisprudential conflict concerning the starting date of the short term of appeal provided for by Articles 325 and 326 of the Italian Civil Procedure Code. More precisely, the Supreme Court had been asked […]

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  • Higher incomes and previous losses carried forward

    The resolution nr. 4 of March 21st, 2019 of the Italian Revenue Agency provides clarifications about the use of previous losses in case of higher taxable incomes resulting from tax assessments. In case previous losses carried forward are deducted in tax returns for an amount below the limit, equal to 80% of the taxable income […]

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  • Campione d’Italia is included in the EU customs territory

    From 1th January 2019 the Italian municipality of Campione d’Italia and the Italian waters of Lake Lugano was included in the EU customs territory. The amendment was adopted by the Regulation n. 474 of 19th March 2019, published in the Official Journal of the European Union on 25th March 2019 with Directive 2019/475 / EU. […]

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  • Lease for non-residential use: when the translation of the tax burdens relating to the property is not null and void

    The contractual clause which places on the lessee the burden of paying all the taxes, duties and charges relating to the leased asset is legitimate if the payment is a supplement to the total rent owed to the lessor. This is the opinion expressed by the Joined Chambers of the Italian Court of Cassation, in […]

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  • Single member private limited liability company and personal responsibility for company’s liabilities

    Compared to partnerships, limited liability companies are autonomous legal entities, totally distinct from the shareholders. It implies that their financial resources are totally separated from the one of their shareholders. Therefore, the shareholders are not liable with their assets for the debts of the company, as well as to the personal debts of other shareholders. […]

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  • The new RLI Model for the option to the “cedolare secca” on the commercial lease

    With the decision n. 64442 of March 19 th 2019 the Italian Tax Authority has integrated the model RLI, the relative instructions and the technical requirements for the tele-transmission, giving the possibility to practice the option for the regime of “cedolare secca” also for the contracts that concerns the building units to the cadastral category […]

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  • Criminal liability of board of statutory auditors in case of violation of their legal control duty

    The Supreme Court with sentence n. 12186/2019 affirmed that in the event of significant violations by directors, the acquiescence of the board of auditors is considered a contributory negligence in crime of fraudulent bankruptcy of directors. As a matter of fact, the extent of auditors’ control provided by art. 2403 of the civil code cannot […]

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  • News in trademarks regulation

    Starting from March 23th, 2019 comes into force the Legislative Decree that makes several important changes and additions to the Code of industrial property, in implementation of the Harmonization Directive (EU) 2015/2436. In particular, with regards to the trademark filing procedure, the requirement of graphic representation is now abolished, which makes possible registration of non-traditional […]

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  • VAT number to be closed only after cashing the last invoice

    Article 35-bis of the D.P.R. n. 633/1972 provides for the obligation for the heirs to proceed with the closure of the VAT number of the deceased within six months of his death. However, in the presence of invoices to be collected or services not yet invoiced by the tax payer, an exception to the aforementioned […]

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  • Tax credit for the requalification of hotel facilities

    From 10 am on 3 April 2019 until 4 pm on 4 April 2019 it will be possible to apply for the recognition of the tax credit for the redevelopment of hotel facilities with reference to the expenses incurred in 2018. The application must be submitted in electronic form through the Procedures Portal at this […]

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  • Effect of the corporate transformation on the calculation of the holding period

    The article 87 of the Italian Consolidated Tax Code, hereinafter also ICTC, provides the so called “Participation Exemption” which consists in the exemption from Income Tax, for 95% of their amount, of capital gains realized through the sale of corporate shares. The rule is applicable if the following requirements are met: uninterrupted possession of the […]

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  • Court of Cassation: the blurred border between the sale of a building to be demolished and the sale of a building plot

    In the case in question, the tax payer sold an old building to a real estate company, receiving in exchange two apartments to be built in place of the abovementioned building. The agreement provided for a complex of apartments with relative appurtenances should be built in the land on which the building was located, and […]

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  • Payment of the annual fee for the corporate books

    Obligated subjects The payment of the fee must be made by the limited company (spa, srl and sapa) including consortium companies. The obligated parties also include companies in ordinary liquidation and companies under insolvency procedures (with the exclusion of bankrupt companies), as long as they keep the obligation to authenticate the corporate books as mentioned […]

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  • The consequences of Hard Brexit regarding commercial trade within EU

    As you may already know the United Kingdom notified the European Council of its intention to leave the European Union on March 29 of 2017, in accordance with Art. 50 of the Treaty on European Union. This decision, unless otherwise specified, will take effect from next March 30, 2019. The Customs Agency on February 26 […]

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  • Postponement for communication of invoice data and cross-border communication

    On February 27th the Ministry of Economy and Finance has informed that the following fiscal deadlines have been postponed: communication of data of invoices issued and received (so called “spesometro”) for the second semester of 2018, which is due on 30 April 2019 ; cross border data communication (so called “esterometro”), concerning the sale of […]

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