Insights

  • The vat refund for non-resident taxpayer with fiscal representative

    The Italian Supreme Court with the decision n. 21684/2020 ruled that taxpayer resident in another EU State may apply for VAT refund even if they appointed a fiscal representative in Italy. The matter concerned a VAT refund application for fiscal year 2000 submitted by a French company. The Tax Office denied the VAT refund arguing […]

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  • The possibility of suspending amortizations

    The possibility of suspending amortizations in the 2020 balance sheets in order to reduce any operating losses accrued as a result of Coronavirus has been confirmed by the conversion law of the “Decreto Agosto”. The companies that shall establish the financial statement without the application of international accounting principles, cannot account for up to 100% […]

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  • The procedural effects of the cancellation of the company from the Commercial Register

    The effects of the cancellation of a company from the Commercial Register are described in article 2495 of the Italian Civil Code, introduced by the 2003 company law reform. The cancellation, however, does not imply the automatic disappearance of the relationships belonging to the company; article 2495 of the Italian Civil Code only partially defines […]

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  • It is now possible to identify the correct VAT rate for all EU countries

    A few days ago the European Commission made available a software through which it’s possible to identify the correct VAT rate applicable to the supply of goods and services in each Member State of the European Union. This tool is available at the following address: https://ec.europa.eu/taxation_customs/tedb/vatSearchForm.html. In order to be able to correctly use the […]

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  • Vat benefits for sale of “anti-Covid-19” goods: clarifications from Financial Administration

    The Financial Administration, with Circular No 26/E of 15 October 2020, has provided any clarifications about the VAT benefits for sales of goods necessary for the containment and management of the epidemiological emergency from Covid-19. Article 124 of Law Decree No 34/2020 establishes that for sales of goods listed in the 1st paragraph apply: an […]

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  • Cookies and Privacy – consent must be clear, specific and unequivocal

    The European Data Protection Board (EDPB) has returned to the matter of consent relevant to GDPR, clarifying, in the Guidelines issued last May, that the consent given by users in the presence of so-called cookie walls and in the case of so-called scrolling is to be considered invalid for the processing of personal data. More […]

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  • The reciprocal request for resolution by the parties determines the termination of the contract

    The Supreme Court has reaffirmed the principle that the Judge must in any case declare the resolution of the contract when the contracting parties ask each other to terminate it. The Ermellini, examining an appeal against sentence no. 728/2018 of the Court of Appeal of Perugia, confirmed the previous jurisprudential orientation, according to which the […]

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  • Payments suspended until 31 December

    Decree Law no. 129/2020, published in the “Gazzetta Ufficiale” no. 260 of 20 October 2020, containing “Urgent provisions on tax collection”, postponed until 31 December 2020 the deadline for the suspension of the collection activity – previously set at 15 October 2020 by the “August Decree” – of all tax and non-tax revenues deriving from […]

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  • Is the BoD’s compensation retractable?

    With the recent ruling of last July (ruling no. 3755/2020), the judges of the business section of the Court of Milan analyzed again the issues connected to BoD’s members compensation but, while the last ruling no. 27335/2019 was focusing on the onerousness or gratuitousness of the role (https://it.andersen.com/en/do-bod-members-have-the-right-to-claim-remuneration-even-in-the-absence-of-a-shareholder-resolution-or-a-by-laws-provision/), this time the Court focuses on the […]

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  • New VAT e-commerce rules

    Due to the practical difficulties created by the COVID-19 pandemic situation, the application of the new VAT e-commerce rules has been postponed by six months. Thus, the rules will apply as of 1 July 2021 instead of 1 January 2021, giving Member States and businesses additional time to prepare. The VAT e-commerce package aims at […]

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  • Sanitization bonus: variation in the percentage of maximum usable credit

    The Revenue Agency, with provision no. 302831 of 11 September 2020, had determined the percentage  of the credit actually usable as the ratio between the allocated resources, initially equal to 200 million euros, and the total amount resulting from the communications sent by taxpayers by September, 7, 2020. This percentage was 15.64%. The converted (L. […]

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  • Extension of the rental bonus for tourist facilities

    The rental bonus, introduced with the “Decreto Rilancio” (art. 28 of Law Decree no. 34/2020), provides for the recognition of a tax credit in relation to rents on non-residential properties used in the exercise of business, art, and profession if in 2019 the sum of revenues and fees is not more than Euro 5 million.  […]

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  • The new European Regulation on crowdfunding

    On 5 October, the European Parliament approved a new regulation with the ambitious scope of granting to crowdfunding platforms to more easily provide their services on the EU single market (the “Regulation”). The desired effect is to allow start-ups, innovators and small businesses to expand their investor base thanks to a wider range of projects […]

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  • The Superbonus 110% for the non-resident individuals

    Non-resident individuals who own real property in Italy can benefit from the deductions included in the so-called “Superbonus 110%” if they incur expenses for subsidized renovation activities. The possibility, for non-residents, to benefit from the aforementioned tax credit has been confirmed by the parliamentary inquiry no. 5-04433 of July 22, 2020, and by the circular […]

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  • Indirect e-commerce: new clarifications released by the Tax Authority

    With the opinion n. 416 of September 28, 2020, the Italian Tax Authority provided certain clarifications regarding the electronic storage and transmission of the daily revenues from indirect e-commerce. Considering that daily revenues from the indirect e-commerce transactions with final consumers are generally exempt from certification (provided that the customer does not require the invoice) […]

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  • Composition with creditors and bankruptcy procedure

    With ruling n. 17532/2020, the Italian Court of Cassation reiterated that the filing of the application for a composition with creditors prevents the declaration of bankruptcy up until the events indicated in articles 162, 173, 179 and 180 of the Bankruptcy Law occur, but does not determine the inadmissibility of the pending insolvency proceedings commenced […]

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  • Superbonus 110% transferable to buyers and heirs holding the property

    The “increased” deduction of 110%, relating to the interventions defined in Art. 119 of the Relaunch Decree, is transferable to the purchaser in the event of sale of the property or to the heir who materially holds it following the death of the holder of the deduction. In the event of the sale of a […]

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  • Suitable organizational structures and “231 models”: the new concept of corporate governance

    At a first glance, the company’s system of criminal liability pursuant to Legislative Decree no. 231/2001 and the new rules on insolvency proceedings pursuant to Legislative Decree no. 14/2019 (Code of Company Crisis and Insolvency) do not have common grounds. In truth, both disciplines are inspired by innovative conception of a proactive approach to counter […]

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  • The “cedolare secca” tax regime and rents of immovable property for business: contracts renewed in 2019

    The “cedolare secca” tax regime on rents for business use arising from contracts entered into or renewed in 2019 is also applicable to years subsequent to the first if the taxpayer has not opted for this regime when registering or renewing the contract. This is what emerged from answer number 388 of 22 September 2020 […]

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  • Sanitization bonus: defined percentage of use and tax code

    With a provision issued on July 10th 2020, the Revenue Agency had defined the criteria and methods for the application of the tax credit for the sanitization and purchase of personal protective equipment, introduced by the so-called Decreto Rilancio – Decree no. 34/2020. Among the criteria established there was the possibility of benefit from a […]

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