-
The new digital customs declaration
The reform of the customs declaration opens a new process for the digital transformation that will be completed in 2025. It provides for the replacement of the DAU model (Administrative Document) in favour of a new model, called EUCDM (European Union Customs Data Model) – defined at European level, according to an implementation plan foresees […]
Learn More -
Operational instructions on transfer pricing
Through Circular 16/E dated May 24th (henceforth “Circular”), the Italian Revenue Agency provided further operational instructions on Transfer Pricing. The content of the Circular rests on the centrality of the concept of “comparable transaction,” returning to the correct notion of the arm’s length interval and recalling what was clarified by the Decree of the Ministry […]
Learn More -
European Union sanctions against Russia
Following the recognition by the Russian government of the self-proclaimed republics of Donetsk and Luhansk on 22 February 2022 and the invasion of Ukraine that began on 24 February 2022, the European Union has imposed a series of new sanctions on the Russian Federation, in addition to the measures already in force since March 2014, […]
Learn More -
OAM Register and Cryptocurrencies
The Ministerial Decree of January 23,2022 was published in the Official Gazzette of the Republic of Italy on February 17 ,2022, outlining the obligations that service providers relating to virtual currency[1] and digital wallet service providers[2] who intend to carry out their activities in Italy must meet. These obligations are primarily expressed in the following […]
Learn More -
Amortization suspension – the extension for 2021 and 2022 is confirmed
Law no. 25/2022, which converted Legislative Decree no. 4/2022, extended the option to suspend the amortization of tangible and intangible fixed assets for fiscal years 2021 and 2022. The principal technical aspects may be summarized as follows: subjective scope: the option is granted only to entities that do not adopt international accounting standards for the […]
Learn More -
Cross-border M&A transactions: the key elements for success
Andersen’s M&A department in Europe publishes an article analyzing the key factors for achieving successful integrations in cross-border M&A deals. Cross-border M&A transactions are nowadays being increasingly boosted by dealmakers. The main reason why drivers leading the main companies to enter into this kind of ventures relies on the benefits that can provide to their […]
Learn More -
EU Whistleblower Directive: implementation in 20 European countries
Andersen´s European Employment practice has developed the new edition of the Employment newsletter. In this publication we address the Whistleblower Directive, how it has been implemented in 20 different European countries, Italy included. Our experts, Francesca Capoferri and Matteo Amici have analyzed what employers and employees will have to observe in the future in our […]
Learn More -
Lands and participation shares revaluation
The “D.L. Energia” (Legislative Decree n. 17/2022) reintroduced the revaluation of lands and participation shares. In particular, the regulation allows to revaluate such assets: to natural persons who are not running a business activity; to partnerships, companies and associations assimilated under the art. 5 of the T.U.I.R.; non-commercial entities with regard to activities that are […]
Learn More -
Tax EU Directive: ATAD3
On December 22 2021, the European Commission published a proposal for a Directive also known as ATAD3, which sets out rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU. The new Directive is expected to be implemented by member States by June 30, 2023 and to be applicable as […]
Learn More -
Remote hearings and electronic document flow in the Russian court system
In January 2022, amendments to the procedural codes of the Russian Federation came into force to introduce and improve the way for the use of electronic documents in court proceedings, as well as to create conditions for remote participation in hearings. The main novelties concern the procedure for filing statements of claim, petitions, submissions and […]
Learn More -
Universal child’s benefit
Starting January 1st, it is possible to submit to INPS (National Social Welfare Institution) the application for the sole and universal child’s benefit that replaced the deduction for dependent children. Access to the benefit is allowed to all families for each dependent child up to 21 years old or, without age limitation, disabled children. The […]
Learn More -
News regarding Intrastat forms and electronic invoicing
As of January 1, 2022, significant changes have been introduced in Italy regarding tax compliance, as a result of the new European regulations. In particular, we will focus on the new “forms” set out for: Intrastat forms – new instructions and new thresholds; Electronic invoicing – extension to 2024 and enlargement of the number of […]
Learn More -
Gifts made by business
Many businesses celebrate Christmas by giving presents to Clients or employees. In order to be compliant with the Italian VAT rules relating to the gifts, businesses must check whether they made a taxable transaction or did they deduct input VAT on purchases. Input VAT on gifts not being part of the business activity of the […]
Learn More -
Transparency obligations in public payments
Legislative Decree 52/2021 has extended the deadline for the application of sanctions for the year 2021 to January 1, 2022, against companies and non-commercial entities that have not complied with the publication of the complete and detailed list of aid and public grants not of a general nature received during the previous year, for a […]
Learn More -
Tax Credits & Business Incentives: The Resilience and Recovery Guide
Andersen’s European Business Incentives and Tax Credits Practice has prepared The Resilience and Recovery Guide, following the out-break of the COVID-19 pandemic. One of the hot topics the European Union is dealing with is the establishment and operation of a special new fund and program, the so-called Recovery and Resilience Facility, RRF. In response to […]
Learn More -
2020 Quick Fixes: VAT provisions on the cross-border exchange of goods
With the publication in the Official Gazette of Legislative Decree no. 192 of 5 November 2021, the European provisions contained in the “2020 Quick Fixes” – VAT provisions on the cross-border exchange of goods – which were already effective as of 1 January 2020, have been transposed into Italian regulatory system. The new legislative […]
Learn More -
Supportive measures for the tourism and hospitality industry
Although the negative pandemic’s impact of COVID 19 with a significant dip in tourist numbers and presences in our country, in the first half of 2021 the hospitality sector reported a smaller decrease, even if it were particularly hard hit (source: Hotel Report Q2 2021, Gabetti Property Solutions). Arrivals in hotels and similar accommodations -56.1% […]
Learn More -
Regulatory Sandbox in Italy: applications for admission opened on November 15th
The time slot for the submission of applications for the simplified regime of testing of FinTech services and products has opened on 15 November 2021. Thanks to the Sandbox, companies operating in the FinTech industry will have the opportunity to test their innovative business models by applying the regulatory exemptions granted by the competent supervisory […]
Learn More -
European Corporate Insights: ESG Criteria in Europe
The application of the ESG Criteria regulation and policies in Europe depends on the country in which they are normally applied. Even though European countries are regulated by the same principles, the considerable differences between one country and another makes sometimes difficult for multinational companies to understand how this works in different jurisdictions. Andersen […]
Learn More -
Global Transfer Pricing Insights: key issues and current state of transfer pricing management
The application of transfer pricing continues to intensify around the world and tax administrations continue to review their international tax law rules, in coordination with various supranational organizations, resulting in a potential shift in related-party transaction policies that will affect all companies in their international business. Andersen Global’s international Transfer Pricing team maintains a firm […]
Learn More