• 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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  • The customs declaration is always mandatory

    Introducing in Italy goods coming from a non-EU country is subject to prior customs declaration if it exceeds certain limits of value (430,00 euros total, limit that goes down to 300,00 euros in the case of transit by land and 150,00 euros for people under 15). It should be noted, in fact, that any consumer […]

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  • ASD and Italian Tax Authority

    The Supreme Court with decision n. 10393 on 30th April 2018 stated that the ASD must prove to carry out associative and non-commercial activities as well as being registered with CONI in order to maintain their entitlement to the tax treatment as per art. 148 TUIR.

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  • Life insurance policies, tax benefits at risk

    With sentence no. 10333/2018 the Italian Supreme Court (Corte di Cassazione) reiterated, recalling its previous intervention (judgment no. 6061/2012) that the life policies are to be considered such only if they guarantee the return of the capital at maturity, otherwise they are considered as ordinary investment contracts. The Court specified that life insurance policy should […]

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  • Fuel’s Supplies from 1st July 2018

    The Italian Budget Law for 2018 (Law no. 205/2017) introduced the obligation of electronic invoicing. The Italian Tax Authorities  with Circular letter no. 8/E on 30.04.2018, issued specified time-frame and rules for e-invoicing of fuel supplies. Moreover, accordingly to the new electronic invoicing obligation, Italian Tax Authorities, with measure n. 73203/2018, issued also a list […]

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  • Composition with creditors, plan’s certification and Court control

    The Supreme Court by Ordinance n. 5825/2018 stated that in composition with creditors the Judge is responsible for checking the correctness of plan’s certification, in terms of completeness of data and comprehensibility of criteria used by the advisor to drawn up. For any further information please contact our firm.

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  • European Commission: first counter-measures on listed non cooperative tax jurisdictions

    The European Commission has proposed guidelines for concrete countermeasures for the EU list of non-cooperative tax jurisdictions. The guidelines aim to ensure that EU funds do not inadvertently contribute to global tax avoidance. They should guarantee that EU external development and investment funds cannot be channeled or transited through entities in countries on the EU’s […]

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  • Composition with creditors, tax settlement and abatement of debts

    The Supreme Court by Ordinance n. 5906/2018 stated that in composition by abatement of debts the debtor could wiped out credits with better right of priority, after paying debts for VAT and withholding tax credit. For any further information please contact our firm.

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  • 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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