• 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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  • Andersen Italy participates in the birth of the C&M Book Logistics joint venture

    Andersen Italian team led by Andrea De Vecchi, Managing Partner, and Andrea di Castri, Partner, together with the contribution of Sebastiano Dell’Arte, Partner, supported Emmelibri S.r.l. in the creation of the joint venture C&M Book Logistics Srl. Emmelibri S.r.l., is the most important independent Italian distributor of publishing products. C&M Book Logistics will be responsible […]

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  • Andersen analyse the impact of Brexit in customs and VAT

    During the webinar organized by Andersen European professionals, in collaboration with the representatives of the European Commission, Germán de Melo and María Isabel García Catalán, the implications of VAT following the exit of the United Kingdom from the European Union were explored. The EORI (Economic operator registration and identification) customs and temporary storage authorizations of […]

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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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  • Andersen Solidifies Platform in Middle East

    Andersen Global member firms formerly operating under the brands “Andersen Tax” and “Andersen Tax & Legal” in Egypt, Jordan and Kuwait will now transition to the common brand “Andersen.” Additionally, Andersen welcomes member firm Alrikaz in the Kingdom of Saudi Arabia (KSA) which will also adopt the Andersen brand. The adoption of a common brand […]

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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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  • Andersen Global Adds One of Tajikistan’s Largest Tax and Legal Firms

    The Firm Since 2005, the professionals at LLC Tax and Legal Advisers have provided services to local and international businesses, focusing on tax, legal, advisory, and outsourcing. The Dushanbe-based firm is led by Office Managing Partner Daler Sirojiddinov and operates with numerous professionals. “We dedicate ourselves to delivering the most comprehensive solutions to our clients, […]

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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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  • Andersen Global Enters Armenia

    The Firm TK & Partners, founded in 2012, is led by Office Managing Partner Varoujan Avedikian and operates with five Partners and 17 professionals, serving international and local clients. The firm provides advisory and legal services in the areas of corporate, banking and finance, antitrust and competition, intellectual property, real estate, bankruptcy, tax, energy and […]

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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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  • Andersen assist the family of the artist Clemen Parrocchetti Piantanida

    Our Associate Partner Gilberto Cavagna, specialized in art law, assisted the heirs of the artist Clemen Parrocchetti Piantanida in the establishment of the archive dedicated to the study, enhancement and promotion of the artist and her works. Gilberto Cavagna provided assistance to the artist’s family in all legal aspects, from the preparation of the archive […]

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  • European Corporate Legal Insights: distribution agreements in Europe

    Andersen’s second issue of European Corporate Legal Insights examines the legal framework of distribution agreements in several European countries. With the introduction of new technologies, the market for products and services extends past borders. International trade is an important strategy for companies of all sizes seeking access to a broader, more diverse and decentralised consumer. […]

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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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  • Law Decree Ristori – Measures in support of tourism operators, culture, exports and international fairs

    Article n. 5 of the “Decreto Ristori” provides for measures to support Italian tourism operators and the cultural sector, in particular: it increases, by 100 million euros, the fund to support the entertainment, cinema, and audio-visual sectors it increases, by a further 400 million euros, the fund to support operators in the tourism sector such […]

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  • Law Decree Ristori – New temporary layoffs, dismissal suspension and social security contribution exemption

    A further 6 weeks of temporary layoffs are provided. This provision applies from November 16, 2019 to January 31, 2021. The 6 weeks of temporary layoffs is free for companies which in the first half of 2020 had a reduction in revenues equal to or greater than 20% compared to the corresponding half of 2019, […]

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