• 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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  • 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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