• New section for VAT deductibility

    Decree Law 50/2017, as noted, changed the discipline related to deduction of the VAT on purchase invoices. The Revenue Agency Circular N. 1/2018 clarified that the right for the VAT deduction is recognized when the tax is due and the taxpayer owns the invoice. If the taxpayer receives an invoice related to 2017 he can […]

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  • Ue: composition with creditors and VAT deduction

    The European Court of Justice, with its holding of 22 February 2018 about lawsuit number C-396/16, clarified the conditions for the adjustment of the VAT deduction originally carried out, in the hypothesis of admission to a scheme of arrangement that involves a definitive reduction of debt obligations towards its creditors. For any further information please […]

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  • Next deadlines in terms of payment and Certification of Profits paid in 2017

    With the enclosed circular the Firm reports next deadlines in terms of payment: – Payment of the 2017 VAT balance, to be paid by next March 16th or, with a surcharge, by the deadline for the payment of taxes resulting from 2018 Income Tax Return. In both cases instalment payment formulas are allowed. – Payment […]

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  • New rules on Swiss VAT for foreign companies operating in Switzerland

    A partial amendment of Swiss VAT law entered into force on January 1, 2018, and has an impact on businesses not established in Switzerland. As of January 1, 2018, foreign businesses pay Swiss VAT on their turnover generated in Switzerland if it generates at least CHF 100,000 worldwide. Moreover, mail-order companies with a place of […]

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  • New rules on taxation of dividends arising from a tax haven

    The Budget Law 2018 provides that dividends paid, directly or indirectly, by companies located in a tax haven will be 50 percent excluded from the taxable income of the resident shareholder. This happens if it can prove (also through the tax ruling) that the foreign company carries out a commercial activity and pass the so […]

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  • Hotels bonus 2017

    The 2018 financial measures have provided the postponement of the tax credit for the companies operating in the touristic industry. The latter was firstly introduced by the D.L. 83/2014 and it was provided only for hotels and then also for holiday farms. The new Law postpones the tax credit for fiscal years 2017 and 2018 […]

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  • Recent changes regarding purchases of fuel and 1-2 euro cents coins

    Two innovations have been recently introduced in Italian law system: -The obligation to use specific means of payment (debit, credit or prepaid cards) for the deductibility of costs and VAT related to purchases of fuel; -The elimination of 1 and 2 euro cents coins and the consequent obligation to round off the amounts of cash […]

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  • The communication of data invoices becomes light

    According to the taxpayers’ statute, which provides at least 60 days between the new provision and the entry into force of the same, to taking into account of the new rules, the deadline for the communication of the invoices’ data for the second half of 2017 has been further extended from Feb. 28th to Apr. […]

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  • Article 34 Bankruptcy law – The amendments made by Budget Law 2018

    The Budget Law 2018 amended the article 34 of Bankruptcy Law regarding the bailment on compulsory liquidation’s bank accounts, enforceable’s bank accounts and bank accounts of seizure procedure. The legislative action provides that all ammounts on those checking accounts have to merge into the “Fondo Unico di Giustizia” or “FUG”, managed by Equitalia Giustizia SpA. […]

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  • Clarifications on booking terms to deduct input VAT on purchases

    The Italian Government issued a new Law last april which changed the booking terms in order to deduct input VAT on purchases. Changes entered into force on January, 1st 2017. As there have been a lot of confusion on the application of said Law, the Italian Tax Authority issued important clarifications which have been reported […]

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  • Simplification on Intra EU communications effective from 01.01.2018

    Since January 1, 2018, some important simplifications regarding Intra-EU communications have been introduced. Andersen & Legal Professionals are at your disposal to provide any further clarification that may be need.

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  • Law Decree connected to Budget Law 2018: fiscal highlights

    The Law Decree connected to Budget Law 2018 was published in Official Gazette no. 172 of december 4th, 2017 and is in force since January 1st, 2018. Andersen & Legal is at your disposal for any additional clarification and explanation.

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  • Update on regulation of Split Payment

    Revenue Agency provided clarifications regarding the “Split Payment”, applicable from 1st July 2017. To correctly identify the recipients of the new discipline, specific lists had been drawn up and pubblished for the year 2018. New methods of VAT payments had also been set. Andersen & Legal is at your disposal for any additional clarification and […]

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  • New deadlines for VAT deduction

    The 2017 corrective measure (D.L. 24 April 2017 50, converted with amendments into L. 21 June 2017 n. 96) introduced some significant changes with regard to the deadlines within which taxpayers are required to exercise the right to deduct VAT relating to the purchase of goods and services and registering purchase invoices and customs bills […]

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  • Usa Tax Reform – Conference Agreement Proposal

    Before Christmas it is expected the approval of the Tax Reform Bill. The new tax reform legislation is the first major overhaul of the U.S. tax system in three decades and contains significant changes for both individual and business taxpayers. This deepening provides ample opportunity for thought on the most significant topics touched by the […]

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  • Annual prepayment income tax, by December 27

    In addition to monthly or quarterly VAT payments, an annual prepayment must be made by the 27 December. Please, see more details on the document (in Italian) attached. Our professionals are at your disposal to assist.

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  • Double taxation: new tax dispute resolution mechanisms

    The Directive n. 1852 approved by Ecofin on 10 October 2017 has introduced a new tax dispute resolution mechanisms in the European Union in order to cover issues related to double taxation. Please see the attachment for further details.

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  • Bankruptcy and insolvency reform act

    The draft law n. 2681 for the bankruptcy and insolvency reform was approved on 11th october 2017by the Senate of Italian Repubblic. Within twelve months the Chamber of Deputies will have to adopte one or more legislative decrees to develop the organic reform of insolvency proceedings and the review of privileges and guarantees. Bankruptcy and […]

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  • Branch exemption and the recapture of losses

    With the measure n. 165138 issued on August 28th, 2017, the Italian Revenue Agency approved the implementing provisions of the branch exemption regime, which has been introduced by the so-called “Internationalization Decree” and regulated by article 168 ter of the Italian Consolidated Tax Text (CITT). The Branch Exemption regime applies to resident companies operating in […]

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  • Deadline September 28, 2017: communication to Revenue Agency

    The first deadline for sending the invoice data to the Revenue Agency is 28 September 2017 as to the data of the first half, by 28 February 2018 as to the data of the second half of 2017. These changes refer only to tax year 2017 and concern only the communication of invoice data. No […]

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