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Law Decree n. 119 October 23rd 2018: facilitated tax arrears definition and tax simplification provisions
On October 23rd 2018 the Law Decree n. 119/2018 (Urgent provisions on fiscal and financial matters) was published in the Official Gazette – General Series n. 247, and it is in force since October 24th 2018. Among the main changes there are measures concerning: “fiscal pacification” (facilitated definition of tax audit reports; facilitated definition of […]
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The Anti-Tax Avoidance Directive and its implementation in Italy
The aim of this work is to provide an overview upon the implementation in the Italian Law System of the European Directive (2016/1164/EU), known as the Anti-Tax Avoidance Directive (from now on, “Directive”). The Directive provides a number of tools in order to fight the so-called “aggressive fiscal planning schemes” which can obtain advantages exploiting […]
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VAT regime of transfer pricing adjustments
By Letter Ruling n.60 of November 2nd 2018, the Italian Tax Authority has clarified that the contribution paid to a subsidiary as a year-end adjustment, in order to maintain its margins within the market range, is not relevant for VAT purposes. In the hypothesis analyzed, the interpellating company, part of a multinational group, operates as […]
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Andersen solution for e-invoicing
Andersen & Legal could manage the entire e-invoicing process: E-invoicing (xml), according to Agenzia delle Entrate (Italian Tax Authority) legislation E-signature of the document Telematic sending of the document through Sistema di Interscambio to Agenzia delle Entrate Accounting, digital storage ensuring integrity and authenticity *** The client could handle directly: Invoicing E-signature of the fiscal document Telematic sending of […]
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Flat rate system: applicability to the taxpayer opting for the simplified system
The resolution n.64 of 14.9.2018 issued by the Tax Authorities specified that taxpayers in the simplified accounting system could switch to the flat-rate scheme (Law December 23, 2014, No. 190) without respecting the term of the three years provided by art. 1 co. 70 of the same law, if in possession of the requisites provided […]
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Bankruptcy and insolvency reform act
Within the end of the current month, the Council of Ministers will have to adopte the Legislative Decree to develop the Code of the economic crisis and the insolvency, which will make up of 390 articles. The Decree The Decree will be a result of the elaboration of the project of the reform on bankruptcy […]
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Tax settlement pursuant to art. 182 ter of Bankruptcy Law in restructuring agreement
The Italian Tax Authorities with Circular letter no. 16/E on 23.07.2018 issued some clarifications for the changed treatment of tax settlement regulated by the new article 182 ter of Bankruptcy Law. For any further information please contact our firm.
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Omitted VAT payment and the payment of employees
The Supreme Court with the decision n. 43456/2018 has convicted an entrepreneur who had failed to pay the VAT due preferring to pay its employees. However, for the Supreme Court, the company crisis in itself is not enough to justify the omitted VAT payment and the application of art. 45 of the Criminal Code about […]
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Quarterly Spesometro: deadline extended for the third quarter
The Art. 11 of Decree 87/2018 modifies the filing deadlines for the Spesometro as indicated below: -The new deadline for filing the data related to the III quarter of 2018 is postponed to February 28, 2019, instead of November 30, 2018 -With reference to the Taxpayers opting to submit this return every six month, the […]
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September 30th: action required for VAT refunds
The EU Directive 2008/09/EC, former 8th Directive and the 13th Directive allow both EU-based businesses and non-EU businesses based in countries where a reciprocal agreements exist to recover the VAT paid in Europe in relation to goods and services purchased and imported. The taxpayer must file a separate claim for each country where the VAT […]
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Advertising Bonus – Application from September 22nd until October 22nd, 2018
From September 22nd, 2018 until October 22nd,2018, it will be possible to send the electronic application to the Department of Information and Publishing of the Council of Ministers to have access to the so-called “Advertising Bonus” regarding the advertising investments made through 2017 and 2018. The Bonus, introduced by the Law Decree No. 50/2017 then […]
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Submission of the quarterly VAT return for the 2nd quarter 2018 to be done within September 17th
The postponement of so called “Comunicazione Dati Fatture” for the second quarter 2018 to October 1st does not concern the Quarterly VAT Return related to the same period, for which the deadline is still set on September 17th. This fiscal change is raising considerable doubts among taxpayers. The current legislation, in fact, seems to set […]
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New formulation of art. 96 of D.P.R. 917/1986
European Directive n. 2016/1164/UE, which has been implemented in Italy with a new Legislative Decree, modifies art. 96 of the Italian Corporate Tax Code. The new formulation if the above-mentioned article will be in force starting from January 1st, 2019. The main changes introduced by the scheme of the new Italian Decree are related to […]
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New Limitations to the split payment regime
According to the Article 12 of D.L. 87/2018 the split payment will no longer apply for services rendered by professionals to public administrations whose payments are subject to withholding tax for income tax purposes. The split payment is the mechanism of splitting of payments by effect of which the VAT charged in an invoice to […]
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Electronic invoicing
The Revenue Agency by their Circular no. 13/E of July 2nd. has provided answers to the main questions received from trade associations and individual taxpayers on electronic invoicing, with particular regard to the recent changes enforced by Law no. 205 of 2017. Our Professionals are available to provide further clarifications on the topic.
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Will mini tax shield defeat tax evasion?
Maurizio Di Salvo, Lawyer and Chartered Accountant, analyzed the D.L. n. 148/2017 on the so-called mini tax shield in an article entitled “L’emersione delle attività estere non dichiarate, edizione 2018” published in the June issue of Novità Fiscali, the specialized magazine of the University of Applied Sciences and Arts of Southern Switzerland – SUPSI. The article points […]
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Electronic invoicing for fuel postponed to 2019
On 27 June 2018, the Council of Ministers approved a new Decree containing the postponement of the fuel card validity until the end of 2018. The electronic invoicing for fuel sales is therefore postponed to 2019. For those who, in the meantime, have adopted measures in order to be compliant to the new regulations, the […]
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The Court of Cassation’s change of direction about individual dismissal in proper circumstances
The Court of Cassation, with the judgment n. 13015/2017 confirms and sustains a recent orientation (Cass. n. 13516/2016, Cass. n. 19185/2016 and Cass. n. 13516/2016) that it considers, in stark contrast to the previous guidelines, the individual dismissal in proper circumstances even if it is indicated by a company in a good economic condition, legitimate. […]
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The reorganization of a Corporate Group and the exercise of income Tax Consolidation Regime doesn’t not procure undue tax benefits and tax avoidance
The Italian Tax Revenue Agency with Resolution n. 40/E of 17 May 2018 stated that when the taxpayer, through legitimate transactions, procure tax benefits there is not abuse of the law. In this case the Corporate Group elected domestic tax consolidation and with this transaction produced significant tax economic effects. The rule is that transactions […]
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Ok to the Transfer Pricing Italian guidelines
The Ministry of the Economy and Finance signed the decree implementing Article 110, paragraph 7 of Presidential Decree 917/1986, concerning transfer pricing.The action updates guidelines on transfer pricing regulations by adapting the previous instructions to the OECD practice and, in particular, to the arm’s length principle. Among the new features that emerge from the final […]
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