Insights

  • Hotels bonus 2017

    The 2018 financial measures have provided the postponement of the tax credit for the companies operating in the touristic industry. The latter was firstly introduced by the D.L. 83/2014 and it was provided only for hotels and then also for holiday farms. The new Law postpones the tax credit for fiscal years 2017 and 2018 […]

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  • Recent changes regarding purchases of fuel and 1-2 euro cents coins

    Two innovations have been recently introduced in Italian law system: -The obligation to use specific means of payment (debit, credit or prepaid cards) for the deductibility of costs and VAT related to purchases of fuel; -The elimination of 1 and 2 euro cents coins and the consequent obligation to round off the amounts of cash […]

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  • The communication of data invoices becomes light

    According to the taxpayers’ statute, which provides at least 60 days between the new provision and the entry into force of the same, to taking into account of the new rules, the deadline for the communication of the invoices’ data for the second half of 2017 has been further extended from Feb. 28th to Apr. […]

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  • The notice in paper form of administrative decisions with digital signature is defective

    The Provincial Tax Court of Treviso with decision no. 55/01/2018 stated that the tax assessment processed by the tax office in paper format cannot have digital signature. Only the digital document notified by certified mail could be digitally signed. According to the judges, in this way the taxpayer would be prevented from any control over […]

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  • Validity of the framework investment agreement signed only by the client

    As stated in the regulation of banking and financial contracts, provided for in Article 117 TUB and Article 23 TUIF,  the framework investment agreement shall be drawn up in writing under penality of nullity. The legislation states a “nullity of protection”, that could be invoked only by the client, if considered convenient for himself. Otherwise, […]

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  • Invoices for not existing operations, The Supreme Court approve the Active Review

    The Supreme Court with decision n. 5448 on 6th February 2018 stated that the active repentance allows to settle the violations committed using invoices for not existing operations, contrary to what is claimed by the tax Authority also in Telefisco 2018. The above mentioned decision admitted the Active Review to heal fraudulent tax return as […]

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  • Article 34 Bankruptcy law – The amendments made by Budget Law 2018

    The Budget Law 2018 amended the article 34 of Bankruptcy Law regarding the bailment on compulsory liquidation’s bank accounts, enforceable’s bank accounts and bank accounts of seizure procedure. The legislative action provides that all ammounts on those checking accounts have to merge into the “Fondo Unico di Giustizia” or “FUG”, managed by Equitalia Giustizia SpA. […]

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  • Clarifications on booking terms to deduct input VAT on purchases

    The Italian Government issued a new Law last april which changed the booking terms in order to deduct input VAT on purchases. Changes entered into force on January, 1st 2017. As there have been a lot of confusion on the application of said Law, the Italian Tax Authority issued important clarifications which have been reported […]

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  • Simplification on Intra EU communications effective from 01.01.2018

    Since January 1, 2018, some important simplifications regarding Intra-EU communications have been introduced. Andersen & Legal Professionals are at your disposal to provide any further clarification that may be need.

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  • Budget Law 2018: fiscal highlights

    The Budget Law 2018 was published in Official Gazette no. 302 of 29 December 2017 and has been in force since 1 January 2018. Andersen & Legal is at your disposal for any additional clarification and explanation.

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  • Law Decree connected to Budget Law 2018: fiscal highlights

    The Law Decree connected to Budget Law 2018 was published in Official Gazette no. 172 of december 4th, 2017 and is in force since January 1st, 2018. Andersen & Legal is at your disposal for any additional clarification and explanation.

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  • Update on regulation of Split Payment

    Revenue Agency provided clarifications regarding the “Split Payment”, applicable from 1st July 2017. To correctly identify the recipients of the new discipline, specific lists had been drawn up and pubblished for the year 2018. New methods of VAT payments had also been set. Andersen & Legal is at your disposal for any additional clarification and […]

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  • New deadlines for VAT deduction

    The 2017 corrective measure (D.L. 24 April 2017 50, converted with amendments into L. 21 June 2017 n. 96) introduced some significant changes with regard to the deadlines within which taxpayers are required to exercise the right to deduct VAT relating to the purchase of goods and services and registering purchase invoices and customs bills […]

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  • Usa Tax Reform – Conference Agreement Proposal

    Before Christmas it is expected the approval of the Tax Reform Bill. The new tax reform legislation is the first major overhaul of the U.S. tax system in three decades and contains significant changes for both individual and business taxpayers. This deepening provides ample opportunity for thought on the most significant topics touched by the […]

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  • Annual prepayment income tax, by December 27

    In addition to monthly or quarterly VAT payments, an annual prepayment must be made by the 27 December. Please, see more details on the document (in Italian) attached. Our professionals are at your disposal to assist.

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  • Double taxation: new tax dispute resolution mechanisms

    The Directive n. 1852 approved by Ecofin on 10 October 2017 has introduced a new tax dispute resolution mechanisms in the European Union in order to cover issues related to double taxation. Please see the attachment for further details.

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  • Bankruptcy and insolvency reform act

    The draft law n. 2681 for the bankruptcy and insolvency reform was approved on 11th october 2017by the Senate of Italian Repubblic. Within twelve months the Chamber of Deputies will have to adopte one or more legislative decrees to develop the organic reform of insolvency proceedings and the review of privileges and guarantees. Bankruptcy and […]

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  • Cinema tax credit: an opportunity for investors

    The Italian legislature has established several measures in favour of the cinema and audiovisual industry. The new Law dated 14 November 2016, n. 220, introduced several amendments and new provisions to the old regime in order to attract more investors and to strengthen such crucial industry in Italy. New tax benefits are based on the […]

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  • Is the final agreement a mere repeat of the preliminary agreement?

    In a recent judgment, the Supreme Court reaffirmed the principle of law according to which if the parties, after they have entered into a preliminary agreement, concluded the final contract, the latter is the only source of rights and of obligations related to their relationship and not mere repetition of the first contract, as the […]

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  • Punitive damages and exequatur

    The italian Corte di Cassazione recognized and enforced US Judgement based on “punitive damages”.

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