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New tax regime for inbound employees
The Italian Law Decree (so-called “growth Decree”) approved on April 4th, has brought significant changes to the domestic regulations for the relocation to Italy of employees, researchers and professors. The changes made to inbound workers provisions enhance the existing regulatory scenario, introducing incentives and favorable measures in order to boost the attraction and settlement of […]
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Hyper depreciation with no continuative interconnection required
The 2019 Budget Law has confirmed for tax year 2019 the hyper depreciation tax regime, which was enforced by the “Industria 4.0” Decree issued by the Ministry of Economic Development (MI.S.E.) in 2017. The hyper depreciation is a tax deduction linked to the purchase of operational assets aimed to the digital conversion of enterprises according […]
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Higher incomes and previous losses carried forward
The resolution nr. 4 of March 21st, 2019 of the Italian Revenue Agency provides clarifications about the use of previous losses in case of higher taxable incomes resulting from tax assessments. In case previous losses carried forward are deducted in tax returns for an amount below the limit, equal to 80% of the taxable income […]
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Campione d’Italia is included in the EU customs territory
From 1th January 2019 the Italian municipality of Campione d’Italia and the Italian waters of Lake Lugano was included in the EU customs territory. The amendment was adopted by the Regulation n. 474 of 19th March 2019, published in the Official Journal of the European Union on 25th March 2019 with Directive 2019/475 / EU. […]
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The new RLI Model for the option to the “cedolare secca” on the commercial lease
With the decision n. 64442 of March 19 th 2019 the Italian Tax Authority has integrated the model RLI, the relative instructions and the technical requirements for the tele-transmission, giving the possibility to practice the option for the regime of “cedolare secca” also for the contracts that concerns the building units to the cadastral category […]
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Criminal liability of board of statutory auditors in case of violation of their legal control duty
The Supreme Court with sentence n. 12186/2019 affirmed that in the event of significant violations by directors, the acquiescence of the board of auditors is considered a contributory negligence in crime of fraudulent bankruptcy of directors. As a matter of fact, the extent of auditors’ control provided by art. 2403 of the civil code cannot […]
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VAT number to be closed only after cashing the last invoice
Article 35-bis of the D.P.R. n. 633/1972 provides for the obligation for the heirs to proceed with the closure of the VAT number of the deceased within six months of his death. However, in the presence of invoices to be collected or services not yet invoiced by the tax payer, an exception to the aforementioned […]
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Tax credit for the requalification of hotel facilities
From 10 am on 3 April 2019 until 4 pm on 4 April 2019 it will be possible to apply for the recognition of the tax credit for the redevelopment of hotel facilities with reference to the expenses incurred in 2018. The application must be submitted in electronic form through the Procedures Portal at this […]
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Effect of the corporate transformation on the calculation of the holding period
The article 87 of the Italian Consolidated Tax Code, hereinafter also ICTC, provides the so called “Participation Exemption” which consists in the exemption from Income Tax, for 95% of their amount, of capital gains realized through the sale of corporate shares. The rule is applicable if the following requirements are met: uninterrupted possession of the […]
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Court of Cassation: the blurred border between the sale of a building to be demolished and the sale of a building plot
In the case in question, the tax payer sold an old building to a real estate company, receiving in exchange two apartments to be built in place of the abovementioned building. The agreement provided for a complex of apartments with relative appurtenances should be built in the land on which the building was located, and […]
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Payment of the annual fee for the corporate books
Obligated subjects The payment of the fee must be made by the limited company (spa, srl and sapa) including consortium companies. The obligated parties also include companies in ordinary liquidation and companies under insolvency procedures (with the exclusion of bankrupt companies), as long as they keep the obligation to authenticate the corporate books as mentioned […]
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The consequences of Hard Brexit regarding commercial trade within EU
As you may already know the United Kingdom notified the European Council of its intention to leave the European Union on March 29 of 2017, in accordance with Art. 50 of the Treaty on European Union. This decision, unless otherwise specified, will take effect from next March 30, 2019. The Customs Agency on February 26 […]
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Further postponement for communication of invoice data and cross-border communication
On February 27th the Ministry of Economy and Finance has informed that the following fiscal deadlines have been postponed: communication of data of invoices issued and received (so called “spesometro”) for the second semester of 2018, which is due on 30 April 2019 ; cross border data communication (so called “esterometro”), concerning the sale of […]
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New Code of economic crisis and insolvency published in Official Journal
Yesterday, 14th February 2019, the Legislative Decree No. 14 on 12th january 2019, containing the new Code of the economic crisis and insolvency, was published in Official Journal. The Code will come into force on 15th August 2020, when the period of 18 months from the date of publication will be expired, according to provision […]
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IRAP: Stop doubling of terms
In the presence of tax offense the doubling of terms is not applicable for the IRAP : this is one of the position taken by the Italian Revenue Agency. With reference to the tax assessments activities related to IRAP reference is made to article 43 DPR 600/1973. Until the fiscal year 2015 this rule stated […]
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Postponement for communication of invoice data and cross-border communication
The undersecretary of the MEF Massimo Bitonci, in a notice issued on Wednesday, February 13, 2019, announced the postponement to April 30, 2019 of the deadlines previously scheduled for February 28, 2019, for: – Communication of invoice data (also called “spesometro” – art.21 of DL 78/2010) of the second half of 2018; – Cross-border communication […]
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Internal audit and constitutional amendments with new Code of the Economic Crisis and Insolvency
The new Code of the Economic Crisis and Insolvency, sets up some amendments on article no. 2477 of Civil Code, modifying the part relating to the limits for adopting internal control or auditors and for the termination of their functions with respect to limited liability corporations (the Italian “SRL”) and cooperative entities. The new article […]
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Register Tax proportional to 3%: partners financing with signed partners meeting minutes
The partners’ contributions towards the company are usually divided in: in contributions made by the partners into title of financing, that foresees the registration of a debt from the society, and that they are considered as a real operation of “loan” that gives right to restitution; in contributions made in the capital account, that compete […]
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Deed of assignment of tax credit requested for refund in insolvency procedures
On January 17th, 2019, the Italian Revenue Agency issued legal advice following a request upon the assignment of tax credits to be refunded, according to Article 43-bis of Presidential Decree nr. 602/1973 in case of liquidation procedures. According to the civil law, the assignment of the tax credit becomes effective from the date of the […]
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Transfer Pricing adjustments are not relevant for the crime of unfaithful tax return
Transfer pricing adjustments do not amount to the crime of unfaithful tax return: this is one of the clarifications given by the Italian Finance Police. Article 4 of the Legislative Decree no. 74/2000, after the changes occurred thanks to the Legislative Decree no. 158/2015, states that the crime of unfaithful tax return occurs when, in […]
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