Insights

  • 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 2017

    The draft law n. 2681 for the bankruptcy and insolvency reform was approved on 11th october 2017 by 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 […]

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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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  • Branch exemption and the recapture of losses

    With the measure n. 165138 issued on August 28th, 2017, the Italian Revenue Agency approved the implementing provisions of the branch exemption regime, which has been introduced by the so-called “Internationalization Decree” and regulated by article 168 ter of the Italian Consolidated Tax Text (CITT). The Branch Exemption regime applies to resident companies operating in […]

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  • Medical liability

    The new medical liability is innovative, see annex for more details.

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  • Deadline September 28, 2017: communication to Revenue Agency

    The first deadline for sending the invoice data to the Revenue Agency is 28 September 2017 as to the data of the first half, by 28 February 2018 as to the data of the second half of 2017. These changes refer only to tax year 2017 and concern only the communication of invoice data. No […]

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  • Split Payment

    D.L. 50/2017 introduced changes in Split Payment. Read more in the attached document (in Italian).

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  • AML for Italian Lawyers

    The Consiglio Nazionale Forense published “AML vademecum” for italian lawyers, after the AML new law.

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  • ACE: coefficient reductions confirmed

    With the final approval of the Conversion Bill of DL 50/2017, the rules of ACE (aid to economic growth) have been changed again. The Italian legislator confirmed that must be considered changes in equity capital from the year 2011 onwards for the calculation of the tax benefit, without needing to consider only changes of the […]

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  • Black List Costs – sanctions applicable to the past

    Starting from 2016 the anti-tax-haven rules have been repealed. So today the new regime provides the full deductibility of the blacklist costs and furthermore the elimination of the obligation, previously required, to report separately blacklist costs on the tax return, and abolition of the related sanctions. Nevertheless the circular n. 39/E/2016 issued by the Italian […]

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  • Trust for support to disabled people: facilities provided in law n. 112/2016

    Italy introduced Law No 112 of 2016, on assistance for people with severe disabilities without family support. Main goal of the law is the full inclusion and autonomy of people with disabilities. In order to achieve these aims, it is provided for the establishment, at the Ministry of Labour and Social Affairs, of a Fund […]

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