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Sending commercial communications to fidelity card holders
The Guarantor for the protection of personal data, with the newsletter no. 456 of 22 July 2019, stresses the illegality of sending commercial communications (so-called spam) addressed to holders of fidelity cards that have not expressed a specific and free consent to the use of their data for marketing purposes. The provision of the Guarantor […]
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CONSOB launches a public consultation on its hypotheses of exemption from the declaration of intent
Article 120, paragraph 4-bis of the Consolidated Law on Finance (TUF) provides that anyone who purchases a stake in quoted issuers equal or above the thresholds of 10%, 20% and 25% of the relevant share capital in listed companies shall state the objectives she intends to pursue in the following six months. The purpose of […]
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Income tax payment – deadline postponed to September 30th
The D.L. 34/2010 has ruled the postponement the deadlines for the payment of direct taxes and VAT – previously scheduled for July 1st – on September 30th. The following taxpayers will benefit from the postponement: companies, sole entrepreneurs and professionals subjected to the I.S.A. (i.e. tax reliability indexes); taxpayers that have reported income of less […]
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The third “tax collection settlement procedure”: the new deadline to 31st July
The D.L. n. 34/2019 (so-called “decreto Crescita”) fixed the new deadline to 31st July to submit the declaration for access to the “third tax collection settlement procedure”. The Article 3 of the D.L. 119/2018 introduced the possibility of benefiting from the third “tax collection settlement procedure” for payment demands entrusted to the Collection Agent between […]
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Nonprofit companies and insolvency proceedings
Nonprofit entities may carry out economic activities in order to achieve their institutional purpose, in accordance with the law and their articles of association. Consequently, if the activity in question fulfills the requirements established by paragraph 2082 of the Italian Civil Code and it is one of the activities listed in the following paragraph 2195, […]
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Third sector: statutory adjustments for ONLUS, ODV and APS
Article 101, paragraph 2, of the Third Sector Code referred to Legislative Decree no. 117 of 2017, provides that entities registered in the ONLUS Registers, Voluntary Organizations and Social Promotion Associations “shall comply with the mandatory provisions (of the Code) within twenty-four months from the date of its entry into force”, being able “within the […]
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VAT Group: the Italian Tax Authority clarifies the application of Italian VAT Grouping rules with ruling n. 222/2019
VAT Group: the Italian Tax Authority clarifies the application of Italian VAT Grouping rules with ruling n. 222/2019 On July 1st, 2019 the Italian Tax Authority issued clarification in the ruling n. 222/2019 concerning the application of VAT Grouping legislation as per Presidential Decree no. 633/1972, DM 6 April 2019 and Circular letter no. 19/E/2018. […]
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Growth Decree: VAT trimestral credits’ credibility
Article 12-sexies of DL 30/04/2019 n. 34, modified article 5, subparagraph 4-ter of the DL 70/88, introducing the possibility for taxable persons to transfer/sell their VAT credits accrued in a single quarter. The previous version of the VAT law allowed exclusively transferability to VAT credit accrued at the end of a calendar year. The discrimination […]
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Electronic invoice and receipts: new rules starting july 1st, 2019
Electronic Invoices With effect from July 1, 2019, all immediate invoices must be issued (therefore sent to the SDI) within 12 days of the transaction. Is utterly important, the indication of the date of execution of the transaction on the invoice (if different from the issuing of the document) or as specified by the Tax […]
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Invalidity of the tax assessment received by registered mail
With decision no. 757/2019, the Piemonte’s Regional Tax Court stated that the tax assessment served by registered mail, and not by the judicial officers, is legally non-existent. According to the judges of Torino, the importance and the function of the act, not only lets the recipient know about the tax demand, but it also legitimizes […]
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Fiscal residence and DTAs
The private letter ruling n. 203, published on June 25th, 2019, provided important explanations regarding the assessment of the fiscal residence in Italy of an individual, as well as regarding the relationship between the domestic regulation and the Double Taxation Agreements. In fact, the Italian Revenue Agency disclosed its interpretation, highlighting that when at the […]
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Inbound employees tax regime applicable also to persons not registered on AIRE
Italian tax authorities have always considered that the lack of Registration on the Register of Italians living abroad (AIRE) was a sufficient requirement to consider a person as a resident in Italy by default. This presumption had the consequence, among others, of not being able to benefit of the Inbound employees’ tax regime. This approach […]
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Paying back Members Loan? Italian Court of Cassation decision n. 12994/19: “debt is generally subordinated”
After the Court of Cassation decision of May 15th, managers chances to pay back loans which were financed by members of a limited company (see art. 2467 of the Italian civil code), appear to be significantly reduced. We are now considering such result as it can be inferred by looking at the decision, as well […]
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The so called “Network Agreement”, a useful agreement that is not commonly used
The network agreement has been introduced by the Italian legislator with art. 3, par. 4-ter, D.L. 5/09, subsequently converted in Law 33/09. This kind of agreement has to be mandatory stipulated by public deed, by authenticated private deed or by a digitally signed deed. This contract has not been particularly used in practice despite its […]
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The Implementation of the Shareholder Rights Directive 2017/828
On 17 May 2017, the Shareholder Rights Directive II 2017/828 (“SHRD II”) was adopted, amending the Shareholders’ Rights Directive 2007/36/EU (or “SHRD”) as regards the encouragement of long-term shareholder engagement. The “SHRD II” must be implemented by 10 June 2019, with the exception of the provisions concerning the identification of shareholders, the transmission of information […]
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The Supreme Court clarifies the burden of proof regarding defecting goods
With regard to judicial proceeding in which the purchaser asks for the termination of the agreement or the reduction of the price due to defective goods, the burden-of-proof regime was uncertain. In fact, traditionally case law states that the purchaser shall prove the existence of the defects; however, some recent jurisprudence states that the seller […]
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Video surveillance and private violence
The criminal division of the Italian Court of Cassation, with the judgment n. 20527 of 13 May 2019, ruled on criminal implications of video surveillance systems use. The Court of Chieti condemned the two defendants of private violence pursuant to art. 610 c.p.[1] “consisted in installing on the perimeter wall of the respective homes remote […]
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Reform of the Italian Civil Code under review at the Senate
Since March the 27th 2019, a government bill is being reviewed by the Justice Committee of the Italian Senate. If enacted, such bill will empower the government to enact delegated laws modifying the Italian Civil Code. Regarding Contract Law, the legislative framework of the bill is vast, whereas regarding Family Law and Succession Law, there […]
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New discipline of carrying over business losses
With the 2019 budget law, in order to eliminate the unequal treatment of business losses based on the subjective profile, the legislator intervened by modifying Article 8, paragraph 3 of the Tuir. The new article states that “the losses deriving from the business operation, in an individual or associated way, with a simplified and ordinary […]
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EU Commission Proposal 2018/0113 – “The use of digital tools and processes in company law”
A large part of the EU company law is now codified in the single Directive UE 2017/1132, which contains the rules of six previous directives issued on company law. This directive has harmonised the European company law but has not introduced any new legal rule in order to facilitate companies’ use of digital technologies, even […]
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