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Obligation to appoint the supervisory body/auditor. How to calculate the average number of employees.
Article 2477, paragraph 2, c.c. has revised the limits for the appointment of the supervisory boards. It requires the mandatory appointment of a supervisory body/auditor if the company has exceeded at least one of the following limits for two consecutive years: total balance sheet assets over 4 million euros; revenues from sales and services over […]
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July 31 st 2019: Deadline for the payment of the first or only rate of “Rottamazione – ter”
The taxpayers who on 30 April had adhered to the preferential definition, provided by the tax-related to budget law DL 119/2018, by the date of 31 July will have to pay the first or only installment provided for by the plan. The taxpayers shall pay the remaining debt free of penalty and default interest, alternatively: […]
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The active repentance considers the pro rata for misteks on exmpt transtaction
Taxable people VAT who, after an incorrect registration, should realize that they have included tax-exempt active transactions rather than taxable transactions, in order to regularize such transactions, they can use the active repentance. The inaccuracies may be attributable to the incorrect documentation and registration of taxable transactions for vat purposes under the Art.6 c.1 D.lgs […]
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Income tax payment – deadline postponed to September 30th
The D.L. 34/2010 has ruled the postponement the deadlines for the payment of direct taxes and VAT – previously scheduled for July 1st – on September 30th. The following taxpayers will benefit from the postponement: companies, sole entrepreneurs and professionals subjected to the I.S.A. (i.e. tax reliability indexes); taxpayers that have reported income of less […]
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The third “tax collection settlement procedure”: the new deadline to 31st July
The D.L. n. 34/2019 (so-called “decreto Crescita”) fixed the new deadline to 31st July to submit the declaration for access to the “third tax collection settlement procedure”. The Article 3 of the D.L. 119/2018 introduced the possibility of benefiting from the third “tax collection settlement procedure” for payment demands entrusted to the Collection Agent between […]
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Nonprofit companies and insolvency proceedings
Nonprofit entities may carry out economic activities in order to achieve their institutional purpose, in accordance with the law and their articles of association. Consequently, if the activity in question fulfills the requirements established by paragraph 2082 of the Italian Civil Code and it is one of the activities listed in the following paragraph 2195, […]
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VAT Group: the Italian Tax Authority clarifies the application of Italian VAT Grouping rules with ruling n. 222/2019
VAT Group: the Italian Tax Authority clarifies the application of Italian VAT Grouping rules with ruling n. 222/2019 On July 1st, 2019 the Italian Tax Authority issued clarification in the ruling n. 222/2019 concerning the application of VAT Grouping legislation as per Presidential Decree no. 633/1972, DM 6 April 2019 and Circular letter no. 19/E/2018. […]
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Growth Decree: VAT trimestral credits’ credibility
Article 12-sexies of DL 30/04/2019 n. 34, modified article 5, subparagraph 4-ter of the DL 70/88, introducing the possibility for taxable persons to transfer/sell their VAT credits accrued in a single quarter. The previous version of the VAT law allowed exclusively transferability to VAT credit accrued at the end of a calendar year. The discrimination […]
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Electronic invoice and receipts: new rules starting july 1st, 2019
Electronic Invoices With effect from July 1, 2019, all immediate invoices must be issued (therefore sent to the SDI) within 12 days of the transaction. Is utterly important, the indication of the date of execution of the transaction on the invoice (if different from the issuing of the document) or as specified by the Tax […]
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Invalidity of the tax assessment received by registered mail
With decision no. 757/2019, the Piemonte’s Regional Tax Court stated that the tax assessment served by registered mail, and not by the judicial officers, is legally non-existent. According to the judges of Torino, the importance and the function of the act, not only lets the recipient know about the tax demand, but it also legitimizes […]
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Fiscal residence and DTAs
The private letter ruling n. 203, published on June 25th, 2019, provided important explanations regarding the assessment of the fiscal residence in Italy of an individual, as well as regarding the relationship between the domestic regulation and the Double Taxation Agreements. In fact, the Italian Revenue Agency disclosed its interpretation, highlighting that when at the […]
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Inbound employees tax regime applicable also to persons not registered on AIRE
Italian tax authorities have always considered that the lack of Registration on the Register of Italians living abroad (AIRE) was a sufficient requirement to consider a person as a resident in Italy by default. This presumption had the consequence, among others, of not being able to benefit of the Inbound employees’ tax regime. This approach […]
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Moratorium of one month for the first transmission of electronic receipts
Amendments to Decree n. 34/2019, presented on June 10th by member of Budget and Finance Committees of the Chamber, also include a moratorium in view of the new obligation, in force since 1st July 2019, of electronic communication to the Revenue Agency of data relating receipts. For the entire first six months of its validity, […]
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New discipline of carrying over business losses
With the 2019 budget law, in order to eliminate the unequal treatment of business losses based on the subjective profile, the legislator intervened by modifying Article 8, paragraph 3 of the Tuir. The new article states that “the losses deriving from the business operation, in an individual or associated way, with a simplified and ordinary […]
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Law Decree No. 34/2019: reintroduction of super-amortization
Art. 1 of the aforementioned decree reintroduced the discipline of the “super-amortization”, establishing that the tax benefit can be applied for purchases made from April 1, 2019 to December 31, 2019, or by June 30, 2020 provided that on December 31, 2019 the order is accepted by the seller and the down payments have been […]
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More tax deduction for IMU from corporate and self-employment income
Article nr.3 of Law Decree nr. 34 of April 30th, 2019 has increased the deductibility rate of property tax (“IMU”) paid for capital real estate, for corporate and self-employment income tax purposes. The principle is that said property tax is not fully deductibile from taxable income. The Law Decree provides for a gradual increase of […]
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Growth Decree: the mini-IRES 2019
The Growth Decree, initially approved on 4 April 2019 with the formula “except to agreements”, received its final green light from the Council of Ministers on last April 23rd. Among the many economic, fiscal and development provisions envisaged, the final version of the decree (published in the Official Gazette on 30/04/2019 and entered into force […]
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Electronic receipts starting from July 1st, 2019
The Decree Law of 2019 introduces the obligation of electronic submission for receipts applicable for taxpayers with a turnover exceeding 400.000 euro starting from July 1st, 2019 and applicable starting from January 1st, 2020 for all others. Please do not hesitate to reach out to our Professionals in case you need further clarifications on the […]
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The application of stamp duty tax on electronic invoices
By virtue of the alternative existing between VAT and stamp duty tax, both paper and electronic invoices issued including VAT exempt charges for an amount greater than euro 77,47 are subject to stamp duty tax of euro 2,00. Since the electronic invoicing has become mandatory from January 1st 2019, taxpayers will have to comply with […]
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Flat-tax regime: Ateco sections relevant for the new impediment
The Italian IRS, on the 9/E 2019 Circular published on 10 April 2019, analyzed some issues relating to the flat-tax regime, focusing in particular on the new impediment represented by direct or indirect control in limited liability companies which carry out economic activities directly or indirectly attributable to those performed by the owners who are […]
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