Branch Exemption regime is not revocable
The branch exemption regime gives to the resident companies the right to opt for the exemption of profits and losses attributable to all their non-resident permanent establishments. Article 168-ter of the Italian Corporate Income Taxation Text (CITT) states that the option is not revocable and that the taxpayer should opt for the regime when the […]
Read More »The Trifling Criminal Offence does not apply to juridical entities
For the first time the Italian Supreme Court (sentence n. 9072/2017, filed on 28.02.18), states that the non-punishment causes of a trifling fact (article 131bis of the Italian Criminal Code), which is applicable to individuals , cannot be also applicable to juridical entities under a preliminary felony charge. In particular, article 131-bis of the Italian […]
Read More »Possible extension to the IRPEF subjects of the rules of the amount carried over of the losses for IRES subjects
The Draft Budget Law for 2019, under discussion by the Parliament, could change the discipline concerning the use of the enterprise’s losses for natural persons. Currently, article 8 of the TUIR (Italian Law for national income tax), which rules upon the application of the income tax on natural persons, provides that: tax losses generated by […]
Read More »Budget Law 2019 – Measurements to support companies
The Budget Law Draft of 2019 includes a few provisions to support companies, some already proposed before, and others with new formulations. Among these last ones is the introduction of an incentive regime consisting of taxation with a reduced IRES tax rate by nine percentage points (from 24% to 15%) of the income declared by […]
Read More »The refund of the EU withholding tax is allowable also in case of voluntary disclosure
The Regional Tax Court in Lombardia, with the decision n. 4031/02/2018, ruled in favor of an individual taxpayer who submitted the voluntary disclosure, stating that the denial by the Revenue Agency of the refund of any “EU withholding tax” already paid by the taxpayer, is illegal and not compliant with the double taxation agreement in […]
Read More »Super and Hyper-depreciation in the budget law for 2019
The draft of the budget law for 2019 introduces new measures in the regulation of super and hyper-depreciation. These two tax breaks, allow companies to benefit from increased fiscal amortization, in excess of the purchase cost of new capital goods. The budget law, still under discussion, in its draft version provides an extension for the […]
Read More »Tax payments by the end of the year
Here below we intend to summarize the next deadlines for the payment of taxes and social security contributions. November 30th, 2018: second or only installment of direct taxes and social security contributions for 2018 calculated on the basis of Income and IRAP 2018×2017 models The payment of the second or only installment can be determined […]
Read More »Release of a shareholder from negative consequences of contribution
With the ruling n. 17500 of July 4, 2018 the Supreme Court clarifies the conditions for validity of a shareholders agreement which grants a put option to one of the shareholders as an indemnity instrument aimed to transfer the risk inherent to the contribution to other shareholders. The further appeal was submitted against the decision […]
Read More »Law Decree n. 119 October 23rd 2018: facilitated tax arrears definition and tax simplification provisions
On October 23rd 2018 the Law Decree n. 119/2018 (Urgent provisions on fiscal and financial matters) was published in the Official Gazette – General Series n. 247, and it is in force since October 24th 2018. Among the main changes there are measures concerning: “fiscal pacification” (facilitated definition of tax audit reports; facilitated definition of […]
Read More »The Anti-Tax Avoidance Directive and its implementation in Italy
The aim of this work is to provide an overview upon the implementation in the Italian Law System of the European Directive (2016/1164/EU), known as the Anti-Tax Avoidance Directive (from now on, “Directive”). The Directive provides a number of tools in order to fight the so-called “aggressive fiscal planning schemes” which can obtain advantages exploiting […]
Read More »VAT regime of transfer pricing adjustments
By Letter Ruling n.60 of November 2nd 2018, the Italian Tax Authority has clarified that the contribution paid to a subsidiary as a year-end adjustment, in order to maintain its margins within the market range, is not relevant for VAT purposes. In the hypothesis analyzed, the interpellating company, part of a multinational group, operates as […]
Read More »Andersen solution for e-invoicing
Andersen & Legal could manage the entire e-invoicing process: E-invoicing (xml), according to Agenzia delle Entrate (Italian Tax Authority) legislation E-signature of the document Telematic sending of the document through Sistema di Interscambio to Agenzia delle Entrate Accounting, digital storage ensuring integrity and authenticity *** The client could handle directly: Invoicing E-signature of the fiscal document Telematic sending of […]
Read More »Fiscal Decree 2019: highlights
The Legislative Decree n. 119 called “Urgent measures in fiscal and financial” was published in Official Gazette no. 247 of 23 October 2018 and has been in force since 24 October 2018. The Decree contains legal measures for the so called “pacificazione fiscale” and tax simplification. In details some provisions are: – settlement of the […]
Read More »Flat rate system: applicability to the taxpayer opting for the simplified system
The resolution n.64 of 14.9.2018 issued by the Tax Authorities specified that taxpayers in the simplified accounting system could switch to the flat-rate scheme (Law December 23, 2014, No. 190) without respecting the term of the three years provided by art. 1 co. 70 of the same law, if in possession of the requisites provided […]
Read More »Bankruptcy and insolvency reform act
Within the end of the current month, the Council of Ministers will have to adopte the Legislative Decree to develop the Code of the economic crisis and the insolvency, which will make up of 390 articles. The Decree The Decree will be a result of the elaboration of the project of the reform on bankruptcy […]
Read More »Tax settlement pursuant to art. 182 ter of Bankruptcy Law in restructuring agreement
The Italian Tax Authorities with Circular letter no. 16/E on 23.07.2018 issued some clarifications for the changed treatment of tax settlement regulated by the new article 182 ter of Bankruptcy Law. For any further information please contact our firm.
Read More »Omitted VAT payment and the payment of employees
The Supreme Court with the decision n. 43456/2018 has convicted an entrepreneur who had failed to pay the VAT due preferring to pay its employees. However, for the Supreme Court, the company crisis in itself is not enough to justify the omitted VAT payment and the application of art. 45 of the Criminal Code about […]
Read More »Once again the arbitrability of corporate disputes is under discussion
Legislative Decree 5/2003 provides that corporate disputes are also capable of arbitration through the arbitration clause present in the company’s bylaws, provided that – similarly to the general provision on arbitration incorporated in the Code of Civil Procedure – a dispute does not affect unavailable rights. A recent ruling of the Court of Rome , […]
Read More »Uncostitutional compensatory allowance for wrongful dismissal
The Constitutional Court has declared the constitutional illegitimacy of Article 3, paragraph 1, of Legislative Decree No. 23/2015 (Jobs Act), in the part in which it determines in a rigid way (2 monthly salary for each year of service) the indemnity due to the employee hired with permanent employment contract with rising protections against unfair […]
Read More »Quarterly Spesometro: deadline extended for the third quarter
The Art. 11 of Decree 87/2018 modifies the filing deadlines for the Spesometro as indicated below: -The new deadline for filing the data related to the III quarter of 2018 is postponed to February 28, 2019, instead of November 30, 2018 -With reference to the Taxpayers opting to submit this return every six month, the […]
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