Insights

  • Fiscal Decree 2019: highlights

    The Legislative Decree n. 119 called “Urgent measures in fiscal and financial” was published in Official Gazette no. 247 of 23 October 2018 and has been in force since 24 October 2018. The Decree contains legal measures for the so called “pacificazione fiscale” and tax simplification. In details some provisions are: – settlement of the […]

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  • Flat rate system: applicability to the taxpayer opting for the simplified system

    The resolution n.64 of 14.9.2018 issued by the Tax Authorities specified that taxpayers in the simplified accounting system could switch to the flat-rate scheme (Law December 23, 2014, No. 190) without respecting the term of the three years provided by art. 1 co. 70 of the same law, if in possession of the requisites provided […]

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  • Bankruptcy and insolvency reform act

    Within the end of the current month, the Council of Ministers will have to adopte the Legislative Decree to develop the Code of the economic crisis and the insolvency, which will make up of 390 articles. The Decree The Decree will be a result of the elaboration of the project of the reform on bankruptcy […]

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  • Tax settlement pursuant to art. 182 ter of Bankruptcy Law in restructuring agreement

    The Italian Tax Authorities with Circular letter no. 16/E on 23.07.2018 issued some clarifications for the changed treatment of tax settlement regulated by the new article 182 ter of Bankruptcy Law. For any further information please contact our firm.

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  • Omitted VAT payment and the payment of employees

    The Supreme Court with the decision n. 43456/2018 has convicted an entrepreneur who had failed to pay the VAT due preferring to pay its employees. However, for the Supreme Court, the company crisis in itself is not enough to justify the omitted VAT payment and the application of art. 45 of the Criminal Code about […]

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  • Once again the arbitrability of corporate disputes is under discussion

    Legislative Decree 5/2003 provides that corporate disputes are also capable of arbitration through the arbitration clause present in the company’s bylaws, provided that – similarly to the general provision on arbitration incorporated in the Code of Civil Procedure – a dispute does not affect unavailable rights. A recent ruling of the Court of Rome , […]

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  • Uncostitutional compensatory allowance for wrongful dismissal

    The Constitutional Court has declared the constitutional illegitimacy of Article 3, paragraph 1, of Legislative Decree No. 23/2015 (Jobs Act), in the part in which it determines in a rigid way (2 monthly salary for each year of service) the indemnity due to the employee hired with permanent employment contract with rising protections against unfair […]

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  • Quarterly Spesometro: deadline extended for the third quarter

    The Art. 11 of Decree 87/2018 modifies the filing deadlines for the Spesometro as indicated below: -The new deadline for filing the data related to the III quarter of 2018 is postponed to February 28, 2019, instead of November 30, 2018 -With reference to the Taxpayers opting to submit this return every six month, the […]

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  • September 30th: action required for VAT refunds

    The EU Directive 2008/09/EC, former 8th Directive and the 13th Directive allow both EU-based businesses and non-EU businesses based in countries where a reciprocal agreements exist to recover the VAT paid in Europe in relation to goods and services purchased and imported. The taxpayer must file a separate claim for each country where the VAT […]

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  • On 19th September 2018, comes into force the GDPR harmonization decree

    On 25th May 2018, the European Union Regulation number 679 of 2016, so called “GDPR” entered into force in all member States. It applies to companies and professionals processing personal data of natural persons. On 4th September 2018, the Legislative Decree (Legislative Decree No. 101/2018) for the harmonization with the General European Regulation on the […]

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  • Advertising Bonus – Application from September 22nd until October 22nd, 2018

    From September 22nd, 2018 until October 22nd,2018, it will be possible to send the electronic application to the Department of Information and Publishing of the Council of Ministers to have access to the so-called “Advertising Bonus” regarding the advertising investments made through 2017 and 2018. The Bonus, introduced by the Law Decree No. 50/2017 then […]

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  • Submission of the quarterly VAT return for the 2nd quarter 2018 to be done within September 17th

    The postponement of so called “Comunicazione Dati Fatture” for the second quarter 2018 to October 1st does not concern the Quarterly VAT Return related to the same period, for which the deadline is still set on September 17th. This fiscal change is raising considerable doubts among taxpayers. The current legislation, in fact, seems to set […]

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  • The crime of unfaithful declaration is excluded for transfer price adjustments

    The Regional Tax Commission of Milan, with sentence no. 3674 on 4 september 2018, stated that no consequences on the penal-tax level can derive from a transfer pricing adjustment. The judges have denied the application of the rule of doubling of the terms of assessment, in case of criminal relevance, to the case of adjustment […]

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  • New formulation of art. 96 of D.P.R. 917/1986

    European Directive n. 2016/1164/UE, which has been implemented in Italy with a new Legislative Decree, modifies art. 96 of the Italian Corporate Tax Code. The new formulation if the above-mentioned article will be in force starting from January 1st, 2019. The main changes introduced by the scheme of the new Italian Decree are related to […]

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  • New Limitations to the split payment regime

    According to the Article 12 of D.L. 87/2018 the split payment will no longer apply for services rendered by professionals to public administrations whose payments are subject to withholding tax for income tax purposes. The split payment is the mechanism of splitting of payments by effect of which the VAT charged in an invoice to […]

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  • Amendment n. 7 (Jersey) Trust Law 1984

    An interesting study on trust in light of the amendment n. 7 entered into force last June 8, 2018, aimed at making the trust tool more ductile and adaptable to the needs of the settlors. In particular we highlight the amendment of article 29 on the provision of information to beneficiaries which gives the settlor […]

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  • Court of Cassation clarifies the nature and the standards of quantification of divorce check

    The sentence 18287/2018, rendered by Court of Cassation’s United Sections, clarifies the nature and the standards of quantification of divorce check under art. 5, paragraph 6 of law 898/1970 pursuant to which “With the sentence pronouncing the dissolution or termination of the civil effects of marriage, the court, taking into account the spouses’ conditions, the […]

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  • New rules for fixed-term employment contracts and more

    On July 14th 2018 entered into force the so called “Dignity decree”, strongly wanted by the new minister of labour Luigi Di Maio (D.L. 87/2018). In this decree, the length of fixed-term contracts cannot exceed 24 months and the employer is obliged to justify the reason of fixed-term contract any time its length exceed 12 […]

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  • Electronic invoicing

    The Revenue Agency by their Circular no. 13/E of July 2nd. has provided answers to the main questions received from trade associations and individual taxpayers on electronic invoicing, with particular regard to the recent changes enforced by Law no. 205 of 2017. Our Professionals are available to provide further clarifications on the topic.

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  • Omitted assessment of observations to the PVC causes nullity of the verification

    The Italian Tax Revenue Agency must always evaluate the observations submitted by the taxpayers pursuant to article 12, paragraph 7, of the Statute of Taxpayers’ Rights. According to the Supreme Court, decision n. 17210 on 2nd July 2018, the article 12, paragraph 7 of Law 212/2000 must be interpreted as meaning that the nullity results […]

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