Insights

  • Ok to the Transfer Pricing Italian guidelines

    The Ministry of the Economy and Finance signed the decree implementing Article 110, paragraph 7 of Presidential Decree 917/1986, concerning transfer pricing.The action updates guidelines on transfer pricing regulations by adapting the previous instructions to the OECD practice and, in particular, to the arm’s length principle. Among the new features that emerge from the final […]

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  • The customs declaration is always mandatory

    Introducing in Italy goods coming from a non-EU country is subject to prior customs declaration if it exceeds certain limits of value (430,00 euros total, limit that goes down to 300,00 euros in the case of transit by land and 150,00 euros for people under 15). It should be noted, in fact, that any consumer […]

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  • ASD and Italian Tax Authority

    The Supreme Court with decision n. 10393 on 30th April 2018 stated that the ASD must prove to carry out associative and non-commercial activities as well as being registered with CONI in order to maintain their entitlement to the tax treatment as per art. 148 TUIR.

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  • Life insurance policies, tax benefits at risk

    With sentence no. 10333/2018 the Italian Supreme Court (Corte di Cassazione) reiterated, recalling its previous intervention (judgment no. 6061/2012) that the life policies are to be considered such only if they guarantee the return of the capital at maturity, otherwise they are considered as ordinary investment contracts. The Court specified that life insurance policy should […]

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  • The termination of the purchase agreement

    The Court of Cassation, with judgment no. 10045/2018, has established that, with regard to the purchase agreement, the redhibitory defects and lack in quality differ from the aliud pro alio delivery, which is when a good delivered is completely different from the good sold, since it belongs to a different category compared to the one […]

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  • Fuel’s Supplies from 1st July 2018

    The Italian Budget Law for 2018 (Law no. 205/2017) introduced the obligation of electronic invoicing. The Italian Tax Authorities  with Circular letter no. 8/E on 30.04.2018, issued specified time-frame and rules for e-invoicing of fuel supplies. Moreover, accordingly to the new electronic invoicing obligation, Italian Tax Authorities, with measure n. 73203/2018, issued also a list […]

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  • The new regulation on cookies in GDPR

    The regulation on cookies, similar tracking technologies and the monitoring of our personal data are  themes particularly important in the latest General Data Protection Regulation no. 679/2016 (GDPR). Cookies are nothing more than text files sent from a website to the computer of the user visiting it. Cookies were developed as tools to improve web […]

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  • Composition with creditors, plan’s certification and Court control

    The Supreme Court by Ordinance n. 5825/2018 stated that in composition with creditors the Judge is responsible for checking the correctness of plan’s certification, in terms of completeness of data and comprehensibility of criteria used by the advisor to drawn up. For any further information please contact our firm.

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  • Ruling request not accepted are unappealable from 2016

    The Supreme Court with decision n. 7497/2018 stated that the tax payer is allowed to appeal the ruling opinion of the Tax Authority but only till on 31th December 2015. According to the new art. 6 of Legislative Decree 156/2016, now the negative opinion of the Tax Authority cannot be appealed. The tax Payer is […]

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  • Validity of proxy released abroad

    The Court of Cassation has spoken about the validity of proxy released abroad with judgment no. 8174/18. The case in question concerned the exception of a German citizen against a minutes of contravention of the Italian Highway Code that has been accepted by the Justice of the Peace of Florence, in relation to which the […]

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  • European Commission: first counter-measures on listed non cooperative tax jurisdictions

    The European Commission has proposed guidelines for concrete countermeasures for the EU list of non-cooperative tax jurisdictions. The guidelines aim to ensure that EU funds do not inadvertently contribute to global tax avoidance. They should guarantee that EU external development and investment funds cannot be channeled or transited through entities in countries on the EU’s […]

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  • Composition with creditors, tax settlement and abatement of debts

    The Supreme Court by Ordinance n. 5906/2018 stated that in composition by abatement of debts the debtor could wiped out credits with better right of priority, after paying debts for VAT and withholding tax credit. For any further information please contact our firm.

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  • Validity of the contract with the only initials of the declarant

    A contract can be considered validly concluded between the parties even with the initials of the declarant, as provided in decision no.6573/2018 of the Supreme Court of Cassation. In fact, according to the prevalent case-law, the signature of the declarant – consisting in name and surname put by himself or in identifiable initials – expresses […]

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  • Antitrust inquiry against vexatious clauses in Accident and Health insurances

    Antitrust and Ivass have started a coordinated action to investigate the existence of several clauses in the insurance policies, that do not allow the heirs of the insured to succeed in the right to compensation if “their relative dies for a different reason than the one which has determined the invalidity and before the insurance […]

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  • New section for VAT deductibility

    Decree Law 50/2017, as noted, changed the discipline related to deduction of the VAT on purchase invoices. The Revenue Agency Circular N. 1/2018 clarified that the right for the VAT deduction is recognized when the tax is due and the taxpayer owns the invoice. If the taxpayer receives an invoice related to 2017 he can […]

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  • Ue: composition with creditors and VAT deduction

    The European Court of Justice, with its holding of 22 February 2018 about lawsuit number C-396/16, clarified the conditions for the adjustment of the VAT deduction originally carried out, in the hypothesis of admission to a scheme of arrangement that involves a definitive reduction of debt obligations towards its creditors. For any further information please […]

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  • VAT deductible is granted even if there is no annual tax return

    The Supreme Court  with decision n. 4392 on 23th February 2018 stated that the Tax Office must granted the VAT tax deductible to the tax payer, if he has complied  with the necessary formal requirements, even if there is no annual tax return. The VAT credit must be used by the tax payer within the […]

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  • Next deadlines in terms of payment and Certification of Profits paid in 2017

    With the enclosed circular the Firm reports next deadlines in terms of payment: – Payment of the 2017 VAT balance, to be paid by next March 16th or, with a surcharge, by the deadline for the payment of taxes resulting from 2018 Income Tax Return. In both cases instalment payment formulas are allowed. – Payment […]

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  • Ban on late evidences for non-collaborative taxpayers

    The Supreme Court by Ordinance n. 4001 on 19th February 2018 stated that the documentation not timely produced to the tax Authority pursuant to art. 32 Presidential Decree n. 600/1973 is not an admissibile evidence. Only if taxpayers proof they’re not guilty they can produce the documentation with the appeal as expressly provided by the […]

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  • The legal person as director in a limited liability company (S.r.l.)

    The specialized section in corporate law of the Court of Milan in its judgement No.3545 of March 2017, has stated the legitimacy of the clause for which a limited company (Spa) shall be nominated as director of a limited liability company (Srl). In the event of potential detrimental acts, it is jointly responsible for the […]

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