Insights

  • Extension of deadline for sending online CU 2021 and data for the pre-filled tax return to March 31

    With press release no. 49, the Ministry of the Economy and Finance, pending the issue of the so-called “Sostegni” Decree, has arranged for the extension from March 16 to March 31, 2021 of the deadline for the online transmission to the Revenue Agency, and the delivery to taxpayers, of the Single Tax Certifications 2021. Consequently, […]

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  • Composition with creditors and third-party attachment

    The Court of Cassation recently ruled on the legitimacy of a payment made to the attachment creditor by a debtor of a party subject to the composition procedure. In particular, it analysed the circumstance in which such a payment is made after the publication of the application for the arrangement procedure in the commercial register, […]

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  • Conventional purpose loan: new legal principles laid down by the Court of Cassation

    In a recent judgment of 25 January 2021, the Court of Cassation returned to the subject of conventional special purpose loans and, in particular, to the issue of the destination clause. As is well known, the special purpose loan is the most common type of financing agreement, i.e., a credit agreement aimed at creating the […]

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  • Law No 124 of 2017 has no retroactive effect

    On the continuing applicability of Article 1526 of the Civil Code, in the event of termination for non-fulfilment of a leasing contract, the Supreme Court[1], after stating that Law no. 124 of 2017 does not have retroactive effects, has recently ruled that the applicability of the latter only to leasing contracts in respect of which […]

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  • Tax offences ex D.Lgs. n.231/2001: responsibility of the legal representative and the company

    On the occasion of the recent meeting of  Telefisco 2021, the Finance Police expressed its opinion on the question of the assessment of liability ex D.Lgs. June 8, 2001, n. 231, in the presence of a tax predicate crime. The question, given the current inclusion of tax crimes in the catalogue of “predicate crimes”, is […]

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  • Presumption of entrepreneurship in short leases

    With paragraphs 595 – 596 of Article 1 of the Budget Law 2021, the legislator has established the threshold beyond which income from short rent must be considered achieved under the company. The new regulation provides that, starting from the fiscal year 2021, the rental of more than four properties in the short-lease form constitutes […]

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  • Untruthful tax return: criminal and tax penalties

    The Supreme Criminal Court with the decision n. 4439/2021 ruled that in the case of an untruthful tax return and a similar tax crime, there is no “ne bis in idem”. The case concerned criminal proceedings for the breach of untruthful tax returns. The taxpayer had complied with the tax assessment and paid the tax, […]

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  • Communication of health costs 2021: sending becomes half-yearly

    The Decree of the Ministry of Economy and Finance of 29 January 2021, published in the Official Journal on 6 February, rewrote the timetable for the transmission of data on health and veterinary expenditure incurred in 2021. The data will be sent every six months. The previous DM of 19 October 2020 to art.7 c.1, […]

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  • EU – China Comprehensive Agreement on Investment

    After seven years of negotiations, last December 30 the European Union and China reached a political agreement on the bilateral Comprehensive Agreement on Investment, which sets the general guidelines for European investments in China and Chinese investments in Europe, with the aim of improving the conditions of access to the two markets for both parties. […]

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  • Fiscal Representation and Direct Identification: what changes with the Brexit Agreement?

    Since the UK’s withdrawal from the European Union was approved on 24 December, there have been a number of outstanding issues, especially in the trade field. One of these points concerned VAT obligations: specifically, the new directives on direct identification and the appointment of a tax representative. In Italy, a resolution to this issue was […]

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  • The assignment of credit does not affect the determination of the competent court and of the jurisdiction

    The criteria established by Regulation (EU) No. 1215/2012, for the purpose of identifying the competent court within the European Union, must be complied with, even if the assignee of the credit has filed the claim before the court next seised by claiming an obligation arising from the contract concluded between the assignor and the third […]

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  • It is required to prove the causal connection for the liability of Auditors pursuant to art. 2047 Civil Code

    The Supreme Court has ruled that it is up to the plaintiff to prove each and every constituent element of the liability of auditors in accordance with article 2407 of the Civil Code. In particular the legitimacy judges have clarified the legal principle according to which the responsibility of the Auditors, in Italian company law, […]

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  • Furniture and large electrical appliances bonus

    The goverment has extended for the year 2021 the IRPEF deduction of 50% for the purchase of furniture and large electrical appliances for furnishing the property being renovated, referred to Legislative Decree 63 / 2013. The maximum amount of the expences on which to calculate the tax benefit for 2021 is 16.000 euros per property […]

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  • News about Superbonus 110%

    The 2021 Italian Budget Law (Legge di Bilancio) introduces innovations for what concerns the Superbonus, the maxi-tax advantage of 110%, formerly introduced by the “Decreto Rilancio”, which allows to deduct, sell or request the discount on the invoice against certain interventions on real estate. Among the main innovations, the six-month extension of the deadline to […]

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  • Business Judgment Rule: latest news on the liability of the director

    With the decision under review, the Supreme Court returns to deal with the principle of the so-called business judgment rule, pointing out that the directors can not be held responsible for the normal business risk and, consequently, the negative outcome of the company’s activities or individual acts related to it. The merit of management choices […]

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  • Extension to 31 December 2022 of the research, development, innovation and design tax credit

    Article 1, par. 1064 of Law 178/2020 (Budget Law 2021) confirmed, until 31 December 2022, the tax credit for research, development, technological innovation, digital innovation 4.0, ecological transition, design and aesthetic ideation activities, regulated by Article 1, paragraphs 198 – 209 of Law 160/2019. In particular, the rule provides that the tax credit: – for […]

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  • Tax and customs implications of the agreement between EU and UK

    Andersen professionals of the European VAT and customs service line drawn up an in-depth analysis on the main key elements of the draft Free Trade Agreement which will be signed by the European Union and the United Kingdom.   Davide Centurelli, coordinator of the Italian VAT and Indirect Customs Tax department, is available to provide further information.

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  • Disavowal of a work of art by the author and its limits

    The law protects the author, but with some important limits. An example of this is the case in which the artist decides to repudiate one of his works due to a change in artistic or philosophical conception, etc. If the work has already been circulated, the law safeguards the rights acquired by third parties and, […]

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  • Shareholders’ agreements and By-laws: connection clause

    The Milan Notarial Council has recently published the following principle: “it is legitimate to include a clause in the By-laws limiting the circulation of shares in a joint-stock company or of shares in a limited liability company; in such a case, the transfer of shares will be effective only if the future shareholder adheres to […]

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  • Free gifts: fiscal discipline and new technical provisions.

    Electronic invoicing is affected by important news from 1° January 2021: all taxpayers will have to consider the new technical specifications ordered by the Revenue Agency. Optionally, it was possible to use the new codes already starting from 1° October 2020. Among these, there is the code “TD27: invoice for self-consumption or for free gift” […]

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