Insights

  • The arbitration clause is not applicable in the event of liability action brought by the liquidator pursuant to Article 146 of the Bankruptcy Law

    The Court of Cassation, with the order in question, has ruled that should the receiver exercise an action for liability pursuant to Article 146 of the Bankruptcy Law, the arbitration clause contained in the articles of association of the bankrupted company shall not apply for the purposes of devolving the dispute to arbitration. Article 146 […]

    Learn More

  • Contracts with written form ad probationem, the objection pursuant article 2725 cannot be declared ex officio

    On the limitations of witness evidence in contracts has returned to pronounce the Supreme Court that, in a recent statement (No. 16723 of 31st August 2020), has reviewed the codicistic discipline analyzing the different attitudes of the objection of inadmissibility of witness evidence in contracts where the written form is required ad substantiam and in […]

    Learn More

  • New recovery fund for travel agencies and tour operators

    A new recovery fund for the COVID-19 emergency has been provided by the Italian Government for travel agencies and tour operators. The fund can be obtained by those companies whose activity is identified by the ATECO codes: 79.1, 79.11 e 79.12. Some requirements are demanded in order to receive it. The application  can only be […]

    Learn More

  • Establishment of the tax code 4050 for the payment of suspended withholding taxes

    With resolution no. 50/E of 7th September 2020, the Inland Revenue established the tax code “4050” for the payment of suspended withholding tax by withholding agents between 17th March 2020 and 31st May 2020. The suspension, introduced by Article 19, paragraph 1, of Decree-Law no. 23 of 2020 (the so-called “Liquidità”), provided for the possibility […]

    Learn More

  • Golden Power and the conversion into Law of the Liquidity Decree

    The spread of the Covid 19 epidemic has resulted in a significant extension of the special powers attributed to the Government in terms of protecting strategic assets from predatory acquisitions by foreign investors (and not only). With the D. L. n. 23/2020 (the “Decree”) of the last 8 April, the Government strengthened its Golden Power […]

    Learn More

  • Stop internal EU rules limiting VAT corrections

    The European Court of Justice, in Case C-835/18, held that national VAT rules which prevent, or make it excessively difficult for a taxpayer, to correct and claim a refund of the tax incorrectly charged on the invoice are unlawful because they are contrary to European rules and the principles of fiscal neutrality, effectiveness and proportionality […]

    Learn More

  • The heir can access the data of the insurance policies stipulated by the deceased

    That is what has been established by the Tribunal of Treviso with a ruling of February 27th, 2020, in a case pertaining a heir to whom the insurance company had opposed the impossibility of communicating the names of the beneficiaries of the policies stipulated, while alive, by the deceased person. In fact, it has to […]

    Learn More

  • The healthcare company is directly responsible for the culpable conduct of the personnel working at its facility

    The Court of Cassation, with ruling no. 13869/2020, returned on the discussed issue of the responsibility of the healthcare company for the damages suffered by patients as a result of the negligent conduct of doctors and professionals employed at the healthcare facility. The case dates back to 2002, and sees as opposing parties the parents […]

    Learn More

  • Considerations and news on the business judgment rule

    The business judgment rule is a rule, of Anglo-Saxon derivation, created by jurisprudence, constantly applied in judgments concerning the liability of directors in corporations (Articles 2392 and 2476 of the Italian Civil Code). The liability of directors is a culpable liability, so that the director can prove that he is not liable by providing positive […]

    Learn More

  • Non-performing VAT receivables and credit notes: terms of issue defined by “August” Decree

    Faster recovery times for non-performing VAT credits. This is what was provided by Article no. 90 of “August” Decree, approved by Council of Ministers, which will rewrite the wording of Article no. 26 of Presidential Decree no. 633/72, regarding terms for issuing VAT credit notes. With regard to bankruptcy proceedings, VAT credit notes will be […]

    Learn More

  • No contractual value for the written details of the essential points on which a contract is based in the course of pre-contractual negotiations

    The Court of Cassation, called to rule on the claim for compensation for damages suffered as a result of the failure to stipulate a preliminary sale of a property, returns to clarify certain issues regarding the conduct that the parties must maintain during dealings prior to the conclusion of the contract. In particular, the Supreme […]

    Learn More

  • The judge’s non-discretionary nature for the order to produce the accounting records in the sale of the business

    In the context of company transfers, pursuant to Article 2560 of the Italian Civil Code, the transferee is jointly and severally liable with the transferor for the company’s past debts resulting from the compulsory accounting records. On this subject, with order no. 13903/2020 the Supreme Court ruled that the judge is deprived of the discretion […]

    Learn More

  • Internal auditing for limited company and cooperative company: obligation postponed until 2022

    In order to contain the negative effects of epidemiological emergency of COVID-19 on business activities, the Decree no. 34/2020, so-called “Decreto Rilancio”, signed into law, postponed until 2022 the duty to adopte internal control or auditors for limited company and cooperative company. This is what was provided by Budget Committee in article no. 51 bis […]

    Learn More

  • Tax credit on lease rental payments: tax codes for offsetting now available

    With resolution no. 39/E of 13 July 2020 the Italian Revenue Agency defined the tax codes to be used for the offsetting of the tax credits from the lease rental payments of shops, real estate for non-residential use and business lease. Such tax credits – established to counter the negative effects from the Covid-19 – […]

    Learn More

  • The monitoring of profits distributed to shareholders through the capital and reserves statement

    The statement of capital and reserves, contained in the RS section of the tax return model, is not merely a summary of the items reported in equity’s balance sheet. In fact, in order to compile the statement, a reclassification for tax purposes of the various items of shareholders’ equity is required. This is confirmed both […]

    Learn More

  • PIF Directive: increased the number of relevant offenses pursuant to Legislative Decree no. 231/2001

    On July 15th, 2020, Legislative Decree no. 75/2020 was published in the Italian Official Gazette, aimed at adapting the Italian criminal law in implementing the EU Directive 2017/1371, the so-called PIF directive – protection of financial interests, on the fight against fraud affecting the Union’s financial interests by means of criminal law. The directive of […]

    Learn More

  • Onus probandi: difference between Civil Code and Code of Consumer

    The Court of Cassation, in its judgment no. 13148/2020, published on 30 June, expressed the following principles: – the application of the rules of the Civil Code is subsidiary to the application of the rules of the Consumer Code; – the burden of proof of the consumer, according to the provisions of Article 132 of […]

    Learn More

  • Assets of a trust attacked by the Tax Authority

    The Court of Cassation, with Ordinance no. 14201/20, has once again ruled on the claims made by the Italian Tax Authority against professional’s assets included in a trust. In the present case, the taxpayer had challenged the notice of mortgage registration issued by Equitalia, claiming that a trust had been set up on the assets […]

    Learn More

  • Operating instructions of the Tax Authority on Tax credit for sanitation and adaptation of working environments

    The Italian Tax Authority with Circular of July 10, 2020, no. 20/E provided the first indications on the procedures and criteria for the use of the tax credit for the adjustment of the working space and the tax credit for the sanitization and purchase of protective devices according to articles 120 and 125 of Law […]

    Learn More

  • Duty to provide information about the user who uploaded files infringing an intellectual property right

    With the recent judgment of 9 July 2020, the Court of Justice of the European Union has had the opportunity to interpret some provisions of the Directive on the respect of intellectual property rights of the European Parliament and the European Council. In particular, the Court ruled that when a film is illegally uploaded on […]

    Learn More