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Covid-19 emergency and “231 risks”: the role of the Supervisory Board
In this period of Covid-19 epidemiological emergency, companies provided of organizational models pursuant to Legislative Decree 231/2001 should focus on two specific types of risks closely related to the pandemic: the sanitary risk and the risk of criminal acts. Such risks may involve the criminal liability of the legal entities. This is the topic addressed […]
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Decree April 26, 2020. Activities that can reopen
The new 26 of April decree issued by the Government provides for measures to contain the contagion for the safe conduct of industrial and commercial production activities, establishing the provisions relating to “Phase 2”, with a loosening of the restrictive measures that will be in force from May 4 to May 17th. The companies, which […]
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Partial suspension of home delivery in Lombardy
Regional Administrative Court – section of Milan stated, as a precautionary measure, on the petition filed by some trade unions that requested the annulment, after suspending its effectiveness, of the Lombardy Region’s Ordinance no. 528 of 11th April 2020 when it allowed home delivery by retail traders for all product categories, even if not included […]
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The applicability of the administrative distraint to VAT
The Supreme Court, with the sentence no. 2320 filed on 31 January 2020, has been called to resolve two questions: The applicability of the administrative distraint, regulated by art. 23 Legislative Decree no. 472/1997 to the VAT refunds, when the Financial Administration has already got a surety by the taxpayer, in accordance with the art. […]
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Application of the new e-invoicing technical specifications delayed to January 2021
The new technical specifications for the e-invoicing, whose application was foreseen from May 4th 2020 (with a transition period up to September 30th 2020), has been recently postponed due to the current Covid-19 pandemic. According to Revenue Agency’s provision n. 166579/2020 of April 20th 2020, the new technical specifications (version 1.6.) will be now applicable […]
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Flat tax regime: new important clarifications
The Revenue Agency, through a series of recent rulings on the flat rate tax regime (referred to in art. 1, paragraphs 54 to 89, Law no. 190/2014) has provided important clarifications with particular reference to the related impediments. The aforementioned pronouncements are as follows: – n. 102 of 14 April, regarding the limit of € […]
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Transfer mispricing erodes capital for UN sustainability goals
Maricla Pennesi, Andersen European Head of Tax, examines the United Nations 2020 Report on the financing of sustainable development objectives. In the article published by Il Sole 24 Ore, Maricla analyzes the phenomenon of transfer mispricing, transfer pricing manipulation, or fraudulent transfer pricing, as one of the reasons for the dilution of economic resources at an international level. The […]
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Il Sole 24 Ore – Whistleblowing spread throughout tax and legal firms
Whistleblowing becomes part of the organizational model of professional firms through tailor-made platforms designed to allow professionals and employees to report crimes and torts. The analysis conducted by Il Sole 24 Ore shows that whistleblowing, the American term used to identify the act of reporting irregularities and offenses, is an increasing practice within the firms […]
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100 euro bonus for employees: further clarification
With resolution no. 18/E of April 9, 2020, the Inland Revenue provided further clarifications regarding the 100 euros bonus for employees introduced by Article 63 of Decree-Law no. 18 of March 17, 2020 (the so-called “Decreto Cura Italia”) due to workers with an income from employment not exceeding 40,000 euros in the year 2019 who […]
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Liquidity Decree: measures in supporting the third sector
Decree-Law no. 23 of 8 April 2020, the so-called “Decreto Liquidità”, provides for some measures relevant to third sector organizations (ETS), sports promotion organizations (EPS), amateur sports associations and clubs (ASD/SSD) and non-commercial organizations in general. In particular, Articles 13 and 14 provide for measures for access to credit, while Articles 18 and 22 provide […]
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Liquidity Decree – Measures to support work
The Liquidity Decree has extended the range of employees who may have access to social security benefits to those employed after 23.2.2020 (the identified conventional date of the beginning of the epidemic caused by the spread of coronavirus). Government provisions extend the wage subsidy treatments provided for in Cura Italia decree also for workers hired […]
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Italian Government extends lockdown until 3 May
The new provisions of the Prime Ministerial Decree published on 10 April 2020 (“Decree”) are effective on national territory from 14 April until 3 May 2020. The Decree summarises and reorganises the containment measures provided for in the previous Prime Ministerial Decree of 8, 9, 11 and 22 March 2020 and the Prime Ministerial Decree […]
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“Decreto Liquidità”: emergency provisions for Justice
The Liquidity Decree, amending the previous Care Italy Decree, extends the period of suspension of the activities of the judicial offices and the deadlines for the completion of procedural acts until 11 May 2020. The period of extraordinary suspension therefore becomes 64 days. For this reason, hearings in civil and criminal proceedings pending at all […]
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“Decreto Liquidità”: main financial measures
On 8 April 2020, Decree-Law no. 23/2020, the so-called “Decreto Liquidità” intervenes to ensure the necessary liquidity to companies based in Italy, affected by the Covid-19 epidemic; in particular, thanks to the intervention of SACE S.p.A., guarantees are provided, until 31/12/2020, in favour of banks, national and international financial institutions and other entities authorized to […]
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Decreto Liquidità – Tax and accounting measures
On 8 April 2020, Decree-Law no. 23/2020, the so-called “Decreto Liquidità”, was published, providing for further urgent measures, amounting to 400 million euros, concerning access to credit for businesses and professionals, export support, support for business continuity, suspension of some tax obligations and extraordinary provisions on justice. In Chapter IV, the new measure has provided […]
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European Commission: use of the framework on public procurement during the emergency
The emergency situation related to the COVID-19 crisis requires that public buyers in the Member States have to ensure goods and services to deal with such emergency at very short notice. The European public procurement framework provides all necessary options for the purchase as quickly as possible of supplies, goods, and services of first necessity. […]
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Accident protection for coronavirus infection too
INAIL, the National Institute for Insurance against Accidents at Work, has extended accident protection to confirmed cases of coronavirus infection. This highlights, even more, the impact that the spread of the epidemic has had and will have on production activities, on the protection and safeguarding of health in the workplace and on the consequent responsibility […]
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Commercial, industrial and production activities allowed and not allowed
The suspension of commercial, industrial and production activities ordered by the numerous decrees issued in recent weeks with measures to contain and manage the epidemiological emergency has an economic impact in the following macro-areas: production activities expressly authorized so-called “functional” production activities essential activities of public benefit commercial activities. In line with the clarifications adopted […]
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Liquidity Decree: business continuity and new extensions due to the business crisis
With Press Release n. 39 of 6 April 2020, the Council of Ministers announced the adoption of new provisions – included in a law decree not published yet in Official Journal – aimed at addressing the company crisis and ensuring the going concern assumption in the Covid-19 emergency phase. The new measures adopted to ensure […]
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Put option: Supreme Court explains the relationship with the so-called “patto leonino”
The Supreme Court states the validity of a put option clause which is negotiated in a private equity deal with which a shareholder (usually the entrepreneur) undertakes to purchase, in a given time period, the shares of the other shareholder (the investor) at a predetermined price. Such price aims to indemnify the investor against entrepreneurial […]
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