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Corrective action 2017 – Off-setting and compliance
Decree 24 April 2017 n. 50 foresees the tightening of the restrictions on the use of tax credits off-setting, pursuant to art. 17 of Legislative Decree no. 241/97 (ie “horizontal compensation”), as well as modification of the ways in which the same compensation can be made by taxpayers. Under the first aspect, the threshold beyond […]
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Italian PIRs, saving plans
The Budget Act 2017 (Legge di Stabilità 2017) has introduced the possibility for asset managers to establish tax-exempt investment plans at no extra costs for individual retail investors (piani individuali di risparmio or PIR), the Italian equivalent of the French plans d’épargne and the UK individual saving plans. The objective is to channel family savings […]
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Corrective action 2017 – split payment
The split payment mechanism, governed by art. 17-ter of Presidential Decree n. 633/72 provides that VAT payable on supplies of goods or services provided by the supplier at the time of issue of the sales invoice, be paid to the treasury directly from the transferee of the operation. In essence, the purchaser “retains” the input […]
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Abrogation of voucher – instructions
With the approval of the ddl n. 2784 as conversion of the Decree Law 25/2017 the provisions concerning occasional work accessory (the voucher) introduced by Legislative Decree n. 81/2015 have been canceled. The provision, however, states that vouchers can be used until December 31, 2017 provided that they have been required within the date of […]
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Unlawful assessments of the Tax Authority
The Commissione Tributaria Regionale di Milano (the Tax Court of second instance) reiterated that the tax assessment notice by the Tax office about Life Portfolio International policies stipulated with Credit Suisse before fiscal year 2009 are unlawful (judgment no. 872 of 6th March 2017). The Tax Court of second instance considered the retroactive application of […]
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The “Scrapping”of payment demands
The deadline for submitting the declaration for access to the simplified procedure to settlement the roles and executive investigations entrusted to the Recovery agent from 1st January 2000 to 31 December 2016, introduced by art. 6 of D.L. 22 October 2016, no. 193, is 21st April 2017. The taxpayer may wind up administrative-tax fines and […]
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Lombardy Region is financing the most attractive Municipalities
Lombardy, with more than 6.389 foreign invested companies, is an important market for investors and the largest recipient of foreign direct investments in the country. With the project AttrACT, in collaboration with Unioncamere Lombardia and Promos – Invest in Lombardy, the region want to boost Lombardy’s attractiveness and competitiveness. The new political measure called AttrACT aims […]
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New rules for the VAT warehouse
For any further information please contact our Firm.
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Supporting the “Industria 4.0” plan
The last italian budget law extended the maxi discount, on the purchase of tangible assets by entrepreneurs and professionals, until December 31st, 2017. This facility allows the application of an increase of 40% on the deductible cost of the asset (super depreciation). The facility also covers motor vehicles purchased from January 1, 2017. In this […]
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Benefit Corporations
B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. Today, there is a growing community of more than 1,000 Certified B Corps from 33 countries and over 60 industries working together toward 1 unifying goal: to redefine success in business. Paolo Trevisanato, managing […]
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The self-defense and the Revenue Agency
The self-defense is the possibility that every public administration has to correct its own errors without the need for a judicial decision. The Revenue Agency makes the correction either on request of the taxpayer or on its own initiative. It is not necessary for the taxpayer to have submitted an appeal to the Tax Commission. […]
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TR Model updating: no guarantee required
The taxpayers, even if they are considered risky, will no longer be required to get a bank guarantee for VAT refunds higher than 30.000 euro, as long as they adhere to the system of “adempimento collaborativo” or “programma di adesione” made by the Italian Revenue Agency. Definitely, this is the main update of the TR […]
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