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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.
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Long term of 60 days for the opposition of creditors in case of split-off without joint-stock company
With the decree no. 2366/2020, the Court of Novara intervened in the issue of the opposition of creditors to the demerger operation, affirming that the reduction from 60 to 30 days as per art. 2505-quater Civil Code cannot be applied. The Judge thus formulated the first jurisprudential ruling on the subject, inserting himself within a […]
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The Court of Milan returns on the forfeiture of the trademark
The Court of Milan, with its ruling no. 5205 of 7th September 2020, has returned to the issue of the forfeiture of trademark and the suitability of certain factual circumstances to prevent the expiry of the five-year term pursuant to Article 24 of the Industrial Property Code. The rule, in fact – which has its […]
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Decree law 149/2020: non-refundable contribution
Decree Law 149/2020, which supplements and amends Decree Law 137/2020, provides for a new measure to support businesses in the form of a non-repayable contribution. The contribution is due to those who have an active VAT number on 25 October 2020 and who declare that they carry out as their main activity one of those […]
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Municipality Tax for 2020: Exemption from payment of the second instalment
The Legislative Decree n.149/2020, so-called Ristori-bis Decree, extended the exemption from payment of the second instalment of Municipality Tax (IMU) for 2020 already provided by art.78 of the Law Decree n.104/2020 and by art.9 of the Law Decree n.137/2020. In particular, the Ristori-bis Decree provided for the cancellation of the IMU due on due on December […]
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Permanent establishment: business activities and the “de facto” administrator’s role
The Supreme Tax Court with the decision n. 21693/2020 ruled that a permanent establishment is set when a non-resident or resident Company carries on all or part of its business activity in the territory of the State with a fixed place of business. In the present case, the Tax Office has notified to a non-resident […]
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Exemption of dividends and capital gains paid to EU/EEA funds
Undertakings for Collective Investment Schemes (UCIs) under foreign law (compliant with Directive 2009/65/EC, or non-compliant but subject to supervision under Directive 2011/EU) may collect dividends from Italian companies exempt from withholding tax. The same exemption applies to capital gains realized on Italian qualifying holdings. This is provided for by art. 109 of draft Budget Law […]
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Obligation to justify shareholders’ resolutions
We can observe, as also stated on several occasions by the Court of Cassation[1], that, according to the rules of the Italian Civil Code, there isn’t a general principle of obligation to justify shareholders’ resolutions passed by limited liability companies or joint-stock companies. On the contrary, the provisions of the Italian Civil Code show the […]
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The Italian Competition Authority investigate Google over advertising market abuse
Following a complaint filed by an Italian digital advertising lobby group, on 20 October the Italian Competition Authority (the Authority) have opened an investigation into Google for alleged abuse, of its dominant position in the display advertising market (prohibited under article Article 102 of the Treaty on the Functioning of the European Union) . Display […]
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Extension of Income Tax and Irap payment
Art 6 DL “Ristori bis” extend the second instalment of Income tax in accordance with art 98 del DL 104/2020. The payment of income tax and IRAP has been postponed until 30/04/2021. (tax period 2020). Also covered by the previous rule are substitute taxes, income tax additions and property taxes. The extension is to be […]
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New Code of Company Crisis
On November 5, 2020, the Legislative Decree No. 147/2020 was published in Official Journal. This Decree had made some adjustments to New Code of Company Crisis and introduced, inter alia, some changes to provisions on adequate organizational structures in Corporate Law. These amendments will enter into force on fifteenth day following the publication of regulatory text […]
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The Corrective Decree of the Crisis Code in the Official Gazette
Legislative Decree no. 147 of 26 October 2020 was published in the Official Gazette on 5 November 2020. This Decree contains supplementary and corrective provisions to the Code of Business Crisis and Insolvency (Legislative Decree no. 14/2019). It intervenes on a regulatory text already amended to resolve disputes arising from unclear provisions, eliminate possible misprints, […]
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The shareholders’ loan needs a special minute
The loans of the shareholders can be opposed to the tax authorities only if provided by a special minute and then accounted accordingly. If not, it can be considered as hidden profit for the company. This is what the Court of Cassation has stated with ordinance no. 24746 of November 5th 2020. The Court of […]
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First IRAP advance for 2020
With Circular no. 27 published on October 19, 2020, Revenue Agency provided clarifications and overcame some operating uncertainties regarding the method to determine first IRAP advance payment for 2020 fiscal year excluded from the IRAP balance payment. Please do not hesitate to reach out to our Professionals in case you need further clarifications on the […]
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Probable extension of the so-called “Zero Rate” on anti-Covid-19 goods
In the Official Journal of the European Union, L 359 of 29 October, EU Decision No 1573/2020 of 28 October was published, in which the Commission considered it necessary to extend the temporal effect to 30 April 2021 of exemption from customs duties and VAT on imports of goods intended for the containment and management […]
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VAT deductible on rechargeable mobile services
The taxable person who purchases, as an end-user, rechargeable mobile phone services can exercise the VAT deduction if indicated on the invoice separately from the consideration. This was confirmed by the Revenue Agency with the Resolution n.69/E of 22 October 2020 in response to the request submitted by a company that had signed a contract […]
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Art. 9 – Cancellation of both the balance and the second instalment of IMU
Art. 9 of the new Law Decree so-called “Decreto Ristori” confirmed the cancellation of both the balance and the second instalment of IMU due on December 16th for buildings in which specific economic activities are carried out, as identified by the Legislator. The Law provision, included in article 9 is addressed to the categories listed […]
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Credit refund of the extinguished company to the sole shareholder
By the decision no. 19641, filed on September 21th 2020, the Supreme Court ruled that, in case of a company cancelled from the company register, the previous shareholder is entitled to request reimbursement of the credit due to the company not only for the proportional amount to its share in the company but for the […]
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