-
Art. 2476, par. 2, of Italian Civil Code and holding companies
Between legitimate enforcement of the right and abuse of it It is well known that article 2476, paragraph 2, of the Italian Civil Code, provides the right of the quota holder of a limited liability company to ask information about the business of the company and to make inspections in order to verify the related […]
Learn More -
Inbound employees tax regime: extension with a child born after residency relocation
Article 16 of Legislative Decree 147/2015 introduced into the Italian legal system a particular tax regime for “inbound” employees designed to act as a further incentive to transfer their residence in Italy. This particular tax regime provides that, for persons who move to Italy, the income from employment, self-employment and business is taxable for the […]
Learn More -
INTRASTAT: relevance of registration to VIES and new evidence about release of assets/goods from the Country
The elements characterizing intra-Community trade are summarized below: the transaction must relate to tangible movable property shipped or transported by the seller or purchaser or by third parties on their behalf from one Member State of the EU to another; the transaction must take place between a taxable person (buyer) and a taxable person (seller) […]
Learn More -
How to pay the annual fee for the corporate books
Obligated subjects The payment of the fee must be made by the limited company (spa, srl and sapa) including consortium companies. The obligated parties also include companies in ordinary liquidation and companies under insolvency procedures (with the exclusion of bankrupt companies), as long as they keep the obligation to authenticate the corporate books as mentioned […]
Learn More -
Tax effects of rent “a scaletta” (variable)
A case that occurs with a certain frequency is for example an agreement to reduce the rent in favor of the tenant who, in agreement with the property owner, performs renovations on the property. According to art. 26 of the T.U.I.R. “rental income contribute, regardless of perception, form the overall income of the subjects who […]
Learn More -
The protection of privacy in the Data Protection Authority’s measures in 2019.
With the RGPD on the protection of personal data, the subject of privacy has encountered a strong and new awareness that arises from precise requirements of legal certainty, harmonization and greater simplicity of the rules regarding the transfer of personal data within the European Union and beyond. The RGPD has also foreseen the establishment of […]
Learn More -
Withdrawals In Procurement And Extension Of The Reverse Charge
Starting from January 1st , the contractors and subcontractors have to determine and pay withholding taxes in procurement, related to income that comes from employed. This obligation is only applied if the amount of the work or service is more than € 200,000, and only if the work is carried out with the prevalent use […]
Learn More -
Consob publishes its final Report on ICO
On 2nd January, the Italian Companies and Exchange Commission (“Consob”) published the final report (hereafter the “Report”) on the initial coin offers (the ICOs) and the exchanges (IEOs) of crypto assets (the so-called tokens) which constitute one of the numerous ways in which the distributed ledger technology (DLT) and also blockchain technology. These technologies, pointed-out […]
Learn More -
The effect of the Brexit in 2020
Effective February 1st 2020, as per the Brexit withdrawal agreement, the United Kingdom will become a non-EU country. The withdrawal agreement provides for a transition period until December 31st 2020 in which the UK will remain in the single market and customs union until the end of the transition. During this 11-month period, the UK […]
Learn More -
Obligations, methods and deadlines for issue and transmission of 2020 Income Certification Form (CU) for remuneration and commissions paid to taxpayers on Flat-Tax regime
Individuals in a Flat-Tax regime must issue a 2020 CU to entities in which during 2019 had declared: – Income from employment or similar – Income other that the one indicated above, on which withholding tax was optionally operated. The 2020 C.U. must not be issued in reference of income in which the taxpayer has […]
Learn More -
Assonime and new limits for internal control according to article no. 2477 Civil Code: the first financial year for auditing
With Case Study no. 1/2020 published on 27th January 2020, Association of Joint-Stock Companies – Assonime recalled that the new Code of Company Crisis and Insolvency and D.L. no. 32/2019 set up some amendments on article no. 2477 of Civil Code, modifying the limits for adopting internal control or auditors for limited company. For companies […]
Learn More -
Administrative liability of the company: new offences in Legislative Decree 231/2001
Law Decree 124/2019, approved on 24th December 2019, introduces new types of tax offences in the Legislative Decree 231/01 in order to provide greater protection of the public finance through the repression of illegal tax practices and to protect companies from non-compliant conduct committed by top management/subordinate individuals. The existent compliance programs did already include […]
Learn More -
Composition with creditors’ discipline: recent clarification
With ruling no. 734 of January 15, 2020, the Italian Court of Cassation intervened on the rules applicable to composition with creditors that combines the partial continuation of the company’s business together with the atomistic liquidation of part of its assets. This is the so-called “concordato misto”, which identify an arrangement with creditors the proposal […]
Learn More -
Budget Law 2020 – What the digital tax provides
The Budget Law 2020 (Law n. 160 of 27 December 2019) published on the Official Gazette on 30 December 2019 amends the Italian Digital Service Tax DST (Article 1, paragraph 678, of the Budget Law 2020) whose main features are. Tax rate is set at 3% and apply to gross revenues resulting from certain B2B […]
Learn More -
Budget Law 2020 – Tax credit for Research and Development (R&D)
The Budget Law 2020 in the article 1 par. 198-209 introduce the new R&D tax credit for: – R&D activities, – technological innovation activities – design and aesthetic conception activities. The credits are set to apply only for 2020 starting from the FY following the one on going on 31 December 2019 and it are […]
Learn More -
Irrevocable Inter Vivos Trust: Italian Supreme Court Interpretation
The Decision here concerned states that: «in the event of a trust set up during the lifetime of the settlor, even if the legal position of the beneficiary was transferred (or in any other way altered) as an effect of the decease of the settlor, the properties held in trust will not be part of […]
Learn More -
Code of company crisis and insolvency: new changes to Legislative Decree no. 14/2019
The draft of decree drawn up by italian government a few days before Christmas, will set up significant changes and amendments to Legislative Decree no. 14/2019, containing the New Italian Code of company crisis and insolvency. Please do not hesitate to reach out to our Professionals in case you need further clarifications on the above.
Learn More -
The russian roulette clause under review in jurisprudence
In a recent judgment of 13th June 2017, published on 19th October 2017, the Court of Rome expressed its opinion for the first time – since no decision had been registered on the point until then and even afterwards – on the merits of the russian roulette clause. It is a clause whose settlement is […]
Learn More -
How to treat the Invoices received over the end of the year
Last year, article 14 of Law 119/2018 has modified the input VAT deduction on purchases. For this reason, it’s useful to remember how to treat the Invoices received over the end of the year. Since the date of receipt of the invoice by the client is crucial, it is useful to briefly analyze the following cases: […]
Learn More -
News regarding IAS 12
The IASB (International Accounting Standards Board) published the interpretation IFRIC 23 “Uncertainty over Income Tax Treatments” in order to regulate the requirements relating to the recognition and measurement referred to in IAS 12 “Income taxes”, if there is uncertainty about the correct tax treatment. Therefore, with respect to the financial statements for the financial years […]
Learn More