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Leverage buy-out: tax avoidance and interests paid deduction
The Supreme Tax Court with the decision No. 868/2019 ruled that the LBO transactions cannot constitute a tax avoidance when they have an economic substance other than tax benefits. In the case in point, the activity of leveraged buy-out was about the acquisition of 50% of the capital share of a trade company by two […]
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Web tax in Italy could create double imposition
Maricla Pennesi and Giovanni Gallucci, partners of Andersen, analyze the taxation of digital services in an article published by Il Sole 24 Ore, section Norme e Tributi. The web tax has been officially introduced in Italy by the Budget Law 2019 waiting for an agreement at European level to standardize and introduce the digital services tax (DTS). […]
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Andersen Global Adds Collaborating Firm in Peru
Andersen Global is proud to announce a collaboration agreement with Estudio Hernández & Ugarelli, a respected legal, tax and business consulting firm based in Lima, Peru. This is the second collaboration agreement in Peru for Andersen Global. Hernández & Ugarelli is comprised of four Partners and 12 professionals. Hernández & Ugarelli has established itself as […]
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Notification of legal claim to a foreign defendant
In the recent ruling of January 31, 2019, n. 2966 the Supreme Court clarifies that the notification of acts of a procedural impulse, carried out against a foreign citizen, must follow the procedures set out in art. 142 of the Italian Civil Procedure Code, if the foreign origin of the addressee is evident from the documentation […]
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Register Tax proportional to 3%: partners financing with signed partners meeting minutes
The partners’ contributions towards the company are usually divided in: in contributions made by the partners into title of financing, that foresees the registration of a debt from the society, and that they are considered as a real operation of “loan” that gives right to restitution; in contributions made in the capital account, that compete […]
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Deed of assignment of tax credit requested for refund in insolvency procedures
On January 17th, 2019, the Italian Revenue Agency issued legal advice following a request upon the assignment of tax credits to be refunded, according to Article 43-bis of Presidential Decree nr. 602/1973 in case of liquidation procedures. According to the civil law, the assignment of the tax credit becomes effective from the date of the […]
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Italian Budget Law 2019
On 29 December 2018, the Italian Parliament approved the 2019 Budget Law, n. 145 of 2018 published on the Official Gazette of 31 December 2018. The Law presents some incentives for innovative Startup and introduces a new version of the tax on digital services, so-called web tax. Favorable taxation for re-invested profit Law no. 145/2018 introduces, starting from the […]
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Andersen Debuts in Poland
Andersen Global strengthens its growing presence in Eastern Europe with the news that A2Z Tax & Legal will adopt the name Andersen & Legal and will become a full member firm of the international organization. Andersen Global has a presence in nearly 20 European countries through its member firms and collaborating firms. A2Z Tax & […]
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Transfer Pricing adjustments are not relevant for the crime of unfaithful tax return
Transfer pricing adjustments do not amount to the crime of unfaithful tax return: this is one of the clarifications given by the Italian Finance Police. Article 4 of the Legislative Decree no. 74/2000, after the changes occurred thanks to the Legislative Decree no. 158/2015, states that the crime of unfaithful tax return occurs when, in […]
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Qualified investmens and Budget Law 2018
The Budget Law 2018 changed the tax treatment of capital gains deriving from the sale of a qualified participation in the share capital of a company, with starting date January 1, 2019. Accordingly to article 67 of the TUIR (Italian Law for national income tax), qualified participations are those that grant voting right of more […]
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Andersen Global Appoints Spanish Public Law Partner as EU Legal Coordinator and Adjunct Member of EU Board of Directors
Today, Andersen Global announced the appointment of José Vicente Morote as the European Legal Coordinator and an adjunct board member to the European Regional Board of Directors. José Vicente is a Partner at Andersen & Legal in Spain and Head of the Public and Regulatory Law practice in Madrid and Valencia. Comprised of tax and […]
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Crime of patrimonial infidelity: also partners can file the lawsuit
The Court of Cassation recently reiterated – in line with prevailing precedents – that the standing to file a lawsuit for the crime of patrimonial infidelity, pursuant to art. 2634 c.c., belongs not only to the company, as a whole, but also, severally, to every single partner (Court of Cassation, section V, sent. n. 57077/2018). […]
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Registration in the VAT Informations Exchange System (VIES)
Until now, the indications provided by Circular AE no. 39/2011 and by Resolution AE n. 42/2012 indicated that if a VAT taxable person was not registered in the VIES system, the tax regime of European transactions must not be applied. The ruling c21-16 (February 9, 2017) by EU Court overturned what the Italian financial administration […]
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Overlapping invoices and VAT deduction
The period between two fiscal years is always important in order to identify the moment VAT becomes deductible on overlapping invoices, especially because of the recent changes of the rules governing this matter. In fact, the art. 14 of the Decree Law n. 119/2018 added a new period to art. 1, paragraph 1, of the […]
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Andersen Global Announces Collaboration with Budapest Law Firm
Andersen Global announced a collaboration agreement with Szabo Kelemen & Partners Attorneys, a respected law firm based in Budapest, Hungary. Hungary marks the 38th country in which Andersen Global offers legal services, expanding the international association’s growing presence in Eastern Europe. Andersen Global is now present in more than 46 countries worldwide. Founded over two […]
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Seminar on civil law: Valentina Piccinini at University of Turin
As part of the constant research of the Department of Law at the University of Turin, the institute organizes the congress Colloqui torinesi di diritto civile, where Valentina Piccinini also participates. The lawyer from Andersen speaks at the seminar on January 24th in a debate that will involve different teachers from different backgrounds to provide a complete scenario on […]
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IFA seminar: Maricla Pennesi on permanent establishments
Maricla Pennesi, Partner Andersen, participates at the conference organized by the Italian branch of the International Fiscal Association (IFA) titled Temi attuali di diritto tributario internazionale e dell’Unione Europea (Actual topics on international and of EU fiscal law), which will be held on January 23. This first edition examines in depth multilateral convention so-called MLI (Multilateral convention […]
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New guidelines for voluntary jurisdiction proceedings in corporate matters
Legislative Decree 168/2003 established Courts sections specialised in industrial property matters (now replaced by sections specialised in business matters, governed by Article 2 of Legislative Decree n. 1/ 2012, converted, with amendments, into Law n. 27/2012). In particular, these Courts are competent with regard to “cases and proceedings relating to corporate relations“, which certainly also […]
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Andersen Strengthens Practice and Presence in Italy
The expertise of three new Managing Partners and two Partners build up the capabilities of the firm, together with an even more widespread presence in the region. Andersen in Italy welcomes the legal and tax professionals Andrea di Castri, Francesca Capoferri, and Stefania Zanotti, as Managing Partners in its offices. The addition of the three […]
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New Italian favorable tax regime for HNWI: Maurizio Di Salvo at STEP Federation
Maurizio Di Salvo takes part as a speaker at the 3rd Alpine Conference organized by the Swiss & Liechtenstein STEP Federation. The conference covers many industry lead topic, such as Data Exchange, Blockchain, Cryptocurrency, Quo Vadis Trust Business. Maurizio, who gained experience in domestic and international tax controversies, debates on the immigration flow to Italy during the rounded table […]
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