• Plastic Tax: main features, recent changes and deferral of entry into force

    The Budget Law 2021 postponed to July 1, 2021 the entry into force of the Plastic Tax, a tax on consumption of plastic products with a single use. The attached document analyzes the main features of Plastic Tax and recent changes occurred.   Marta Pasqui  

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  • Approval of the Financial Statement 2020: video conferences until March 2021

    The 2021 “Milleproroghe” decree extends until 2021 the provisions introduced by Article 106 of the “Cura Italia” decree which are aimed at facilitating the course of shareholders’ meetings. For the financial year 2020, it is also possible to partially derogate from the rules laid down by the Legislator in Articles 2364 and 2478-bis of the […]

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  • Extension of deadline for sending online CU 2021 and data for the pre-filled tax return to March 31

    With press release no. 49, the Ministry of the Economy and Finance, pending the issue of the so-called “Sostegni” Decree, has arranged for the extension from March 16 to March 31, 2021 of the deadline for the online transmission to the Revenue Agency, and the delivery to taxpayers, of the Single Tax Certifications 2021. Consequently, […]

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  • Presumption of entrepreneurship in short leases

    With paragraphs 595 – 596 of Article 1 of the Budget Law 2021, the legislator has established the threshold beyond which income from short rent must be considered achieved under the company. The new regulation provides that, starting from the fiscal year 2021, the rental of more than four properties in the short-lease form constitutes […]

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  • Untruthful tax return: criminal and tax penalties

    The Supreme Criminal Court with the decision n. 4439/2021 ruled that in the case of an untruthful tax return and a similar tax crime, there is no “ne bis in idem”. The case concerned criminal proceedings for the breach of untruthful tax returns. The taxpayer had complied with the tax assessment and paid the tax, […]

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  • Communication of health costs 2021: sending becomes half-yearly

    The Decree of the Ministry of Economy and Finance of 29 January 2021, published in the Official Journal on 6 February, rewrote the timetable for the transmission of data on health and veterinary expenditure incurred in 2021. The data will be sent every six months. The previous DM of 19 October 2020 to art.7 c.1, […]

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  • Fiscal Representation and Direct Identification: what changes with the Brexit Agreement?

    Since the UK’s withdrawal from the European Union was approved on 24 December, there have been a number of outstanding issues, especially in the trade field. One of these points concerned VAT obligations: specifically, the new directives on direct identification and the appointment of a tax representative. In Italy, a resolution to this issue was […]

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  • Furniture and large electrical appliances bonus

    The goverment has extended for the year 2021 the IRPEF deduction of 50% for the purchase of furniture and large electrical appliances for furnishing the property being renovated, referred to Legislative Decree 63 / 2013. The maximum amount of the expences on which to calculate the tax benefit for 2021 is 16.000 euros per property […]

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  • Extension to 31 December 2022 of the research, development, innovation and design tax credit

    Article 1, par. 1064 of Law 178/2020 (Budget Law 2021) confirmed, until 31 December 2022, the tax credit for research, development, technological innovation, digital innovation 4.0, ecological transition, design and aesthetic ideation activities, regulated by Article 1, paragraphs 198 – 209 of Law 160/2019. In particular, the rule provides that the tax credit: – for […]

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  • Tax and customs implications of the agreement between EU and UK

    Andersen professionals of the European VAT and customs service line drawn up an in-depth analysis on the main key elements of the draft Free Trade Agreement which will be signed by the European Union and the United Kingdom.   Davide Centurelli, coordinator of the Italian VAT and Indirect Customs Tax department, is available to provide further information.

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  • Free gifts: fiscal discipline and new technical provisions.

    Electronic invoicing is affected by important news from 1° January 2021: all taxpayers will have to consider the new technical specifications ordered by the Revenue Agency. Optionally, it was possible to use the new codes already starting from 1° October 2020. Among these, there is the code “TD27: invoice for self-consumption or for free gift” […]

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  • Dividends from non-resident companies located in low-tax jurisdictions

    The Tax Authority with ruling no. 587 of 16th December 2020, provided some clarifications on the issue of dividends from the blacklisted company. The application filed to the Tax Office concerning income realised in the fiscal year 2017 and distributed in the fiscal year 2019 to the Italian parent company Alfa by the subsidiary Beta […]

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  • Brexit: the effects of a no deal

    The United Kingdom left the European Union on 31 January 2020 after 47 years of EU membership. The withdrawal agreement provides for a transition period ending on 31 December 2020 during which EU rules will continue to apply, thereafter the UK will officially become a third country. Negotiations on the partnership agreemen18t to govern the […]

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  • Does building abuse freeze the Superbonus?

    According to the general rules, only maintenance work can be carried out on a building where there is building abuse, while all innovations and improvements can only be authorised in a context of full legitimacy and building regularity of the building; in the light of this principle, it would therefore be impossible to access the […]

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  • False Declaration and Omitted Payment: two different violations

    With judgment n. 27963 of 7 December 2020, the Italian Supreme Court took a position in relation to the tax penalties applicable in case of untrue declaration and consequent failure to pay the taxes due. In particular, the Supreme Court stated that the false declaration and the omitted payment have different trigger events and are […]

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  • Online sales to non-EU private individuals must be documented by invoice

    The Covid-19 emergency has helped to increase the trend of online sales, a trend that has already been growing steadily since last few years. The strength that has attracted many small and medium-sized enterprises in Italy to invest in e-commerce is the possibility of breaking down the territorial limitations of physical stores and expanding their […]

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  • Cash back of Christmas

    From 8 December and until 31 December 2020, private consumers, over 18 and resident in Italy, who will make at least 10 purchases with credit cards, debit cards and prepaid will be able to obtain the c.d. Extra Cash Back Christmas, or a refund of 10% on expenditure made up to a maximum of € […]

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  • IMU for fiscal period 2012 on industrial real estates: declared the incustitutionality

    The Constitutional Court declared illegitimate the rule governing the non-deductibility of the cost of IMU (local tax on industrial real estate), for the 2012 tax period, from income taxes. The provision declared illegitimate is in fact in contrast with some principles guaranteed by Articles nr.3, 41, and 53 of the Constitution (principle of ability to […]

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  • Decree Law 157/2020: suspension of payments for the month of December

    Decree Law 157/2020 provided for the suspension of some tax / social security payments with ordinary expiry in December 2020. The suspension concerns in particular: Value added tax (periodic VAT for the month of November 2020, expiring on 16.12.2020 for monthly taxpayers, and the year-end downpayment of VAT for tax year 2020, expiring on 28.12.2020); […]

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  • News about TP Documentation

    With the Measure published last November 23rd, 2020, the Italian Revenue Agency modified the Italian regulations regarding the documentation on transfer pricing. The document attached analyzes the most relevant changes occurred. Martina Borlandelli

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