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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 […]
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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 […]
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Andersen Global debuts in Palestine
Andersen Global announced it entered into a collaboration agreement with Ramallah-based law firm, Sharp & Beyond for Legal and Investment Consulting Services (S&B). The agreement marks the firm’s debut in Palestine, expanding its global platform in the Middle East. Sharp & Beyond Established in 2017, Sharp & Beyond, a full-service law firm, has four Partners […]
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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 […]
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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 […]
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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 […]
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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 […]
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Andersen Global Continues Expansion in Africa with Debut of Tunisian Collaborating Firm
Further expanding its footprint in Africa, Andersen Global announced it has signed a Collaboration Agreement with Tunisia-based tax firm Jelil Bouraoui & Associates. Founded by Managing Partner Jelil Bouraoui in 1981, Jelil Bouraoui & Associates has grown to include more than 40 tax professionals and is a full-service tax firm, providing services to a wide […]
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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.
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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 […]
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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: […]
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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 […]
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Andersen Global Strengthens Presence in Nigeria with The New Practice
Andersen Global entered into a Collaboration Agreement with Lagos-based law firm, The New Practice (TNP), increasing the global organization’s footprint in Africa and strengthening its presence in Nigeria. Founded in 2007, TNP’s practice includes Office Managing Partner Baba Alokolaro and more than 20 legal professionals. The firm provides a large range of commercially oriented legal […]
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Deadline of the VAT down payment
December 27th is the stated deadline for paying the year-end downpayment of VAT for tax year 2019. The amount to be paid can be computed by three different methods: • Historical method; • Forecasting method; • Method of operations “carried out”. The historical method determines the VAT down payment due based on the 88% of […]
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IMU and TASI balance for the year 2019
December 16th is the deadline for the payment of the IMU (property tax) and TASI (city service tax) as a balance for tax year 2019, with regard to real properties held during 2019. The IMU is a property tax that relates to land and buildings and is due either by the owner or the holder […]
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Andersen Global Expands Presence in Mozambique
Andersen Global is proud to announce an expanded presence in Mozambique as collaborating firm, Isálcio Mahanjane Advogado & Associados, opens a new office in the city of Beira. Isálcio Mahanjane Advogado & Associados, which also has a presence in Maputo, became a collaborating firm in August 2018. Led by Managing Partner Isalcio Mahanjane, the firm […]
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Technical meetings for business growth
The cycle of meetings entitled Technical ideas for business growth, held at the Andersen office in Brescia for customers, entrepreneurs and managers, starts on 12 December. A series of targeted and practical-cut meetings that touch specific themes for a more flexible and targeted management of companies. The chosen topics – Patent Box, Financial Law, Cyber […]
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Tax simplifications
At the Article 16 paragraph 1-bis law Decree number 124/2019 – tax Decree linked Budget law 2020 – Government announced new tax simplifications. News from proposal of law provide less fulfillments to taxpayers, they have as object the communications of data concerning the sale of goods and the provision of services performed and received from […]
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New rules from Europe on cross-border transformations, mergers and demergers
In order to improve the functioning of the European internal market for companies and the related exercise of the freedom of establishment, it has been necessary to act on the rules governing cross-border operations. The European legislator, related to this topic, adopted the following Directives : 2005/56, 2009/101, 2011/35, 2012/30 and 2017/1132. Despite these, nowadays […]
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Tax incentives for audiovisual productions: Andersen workshop for AGICI
On December 7, 2019, the Tax incentives to European audiovisual works conference is held in Como, organized by the European Media service line of Andersen. In fact, experts from Spain, France, Hungary, Germany, UK, and Italy take part in the eighth edition of MICI19 (International Meeting of Independent Cinema) – a three-day happening with conferences, […]
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