AML for Italian Lawyers
The Consiglio Nazionale Forense published “AML vademecum” for italian lawyers, after the AML new law.
Read More »ACE: coefficient reductions confirmed
With the final approval of the Conversion Bill of DL 50/2017, the rules of ACE (aid to economic growth) have been changed again. The Italian legislator confirmed that must be considered changes in equity capital from the year 2011 onwards for the calculation of the tax benefit, without needing to consider only changes of the […]
Read More »Trust for support to disabled people: facilities provided in law n. 112/2016
Italy introduced Law No 112 of 2016, on assistance for people with severe disabilities without family support. Main goal of the law is the full inclusion and autonomy of people with disabilities. In order to achieve these aims, it is provided for the establishment, at the Ministry of Labour and Social Affairs, of a Fund […]
Read More »Anti Money Laundering legislation: D.Lgs 25.05.2017 n. 90 approved
The D.Lgs 25.05.2017 n.90 was approved and published on the 19.06.2017 Gazzetta Ufficiale.The italian national law mesures – trasposing the reporting obligations set out in Directive (UE) 2015/849 – will enter into force on the fourth of july. The news set out, mainly involves: increasing of the administrative sanctions; increasing number of the “politically exposed […]
Read More »Privacy: insights on new rules
Next May 25, 2018 will enter into force the regulation 2016/679 that concerns privacy policy. This regulation enters into what, with Directive 2016/680, has been defined as the “European Data Protection Package”. The article attached herewith defines the amendments introduced by the Regulation which all companies shall adopt within one year.
Read More »The “overindebtedness procedure”
The “overindebtedness procedure”, introduced by the Italian law 3/2012, is increasingly being used in Italian Courts. Read more in the attached document (in Italian).
Read More »Clarifications on reverse charge sanctions
For any further infomation please contact our Office.
Read More »No more automatic lifelong divorce payments
Italian high court ends automatic lifelong divorce payments in landmark ruling. Supreme Court judgment overturns 30 years of case law: from now on the benchmark for levels of maintenance will be based on an assessment of the independence or economic self-sufficiency of the former spouse requesting it. Divorcees who have independent means or are capable […]
Read More »Scheme of arrangement: write-off VAT debt
Before the amendment, Article 182 ter of Bankruptcy Law provided for the possibility of extending or partially cutting back some tax debts. However, this rule excluded the VAT debt and withholding tax, for which it was possible to propose only an extension of the terms, excluding the possibility of writing-off the nominal value of the […]
Read More »Lease and scheme of arrangement on a going concern basis
With a sentence dated April 5th, 2017 the Court of Appeal of Florence stated that the lease is incompatible with the scheme of arrangement made on a going concern basis. The sentence states that the entire discipline of the aforementioned scheme, ex art. 186bis of the Italian Bankruptcy Law, is based on the assumption that […]
Read More »Changes in tax credit off-setting through F24 forms
Decree Law n. 50/2017 introduced important news about Credit Compensation related to F24 Tax models. For further details please see the circular below. Our Professionals are at your disposal for any further information.
Read More »Italy implements transfer pricing and patent box regime
Italy enacted into law important changes to its transfer pricing and patent box regime. Law Decree n. 50/2017 replaces the concept of “normal value” with a transfer pricing method that is in line with the OECD arm’s length principle, adds corresponding adjustments to Italian tax law, and updates the list of intellectual property that can […]
Read More »Innovative start up
Decree-Law 179/2012 has introduced into the Italian legal system a definition of a new innovative enterprise of high technological value, the (called) “innovative startup”. The policy for innovative startups became stronger in the last years by several subsequent legislative interventions. The Stability Law for 2017 has improved and broadened the range of benefits in favor […]
Read More »Corrective budget adjustment 2017
The corrective fiscal package called “Urgent measures in financial matters, initiatives in favor of local authorities, further measures for areas affected by earthquakes and measures for the development”, was approved by the Cabinet in its meeting of April 11 2017, and amounted to more than 3,4 billion euros. The measure contains a series of measures […]
Read More »Voluntary Disclosure bis: our insights
The Government re-opens the terms of the so-called Voluntary Disclosure procedure. Taxpayers that have already taken advantage of the ‘first window’ will not have access to the procedure. To benefit from the Voluntary Disclosure-bis, the taxpayer must: submit an application to the Italian Revenue Agency correcting violations made up until 30 September 2016 (i.e. for […]
Read More »Rent-to-buy: our insights
The “rent-to-buy” agreement, with the tight credit market and stricter down payment requirements, has emerged as a trend for people who otherwise would not be home buyers. Rent-to-buy is a particular kind of contract, introduced by D.L. 133/2014. It is a hybrid contract, halfway between sale and lease. The landlord delivered the property to the […]
Read More »Corrective action 2017 – Off-setting and compliance
Decree 24 April 2017 n. 50 foresees the tightening of the restrictions on the use of tax credits off-setting, pursuant to art. 17 of Legislative Decree no. 241/97 (ie “horizontal compensation”), as well as modification of the ways in which the same compensation can be made by taxpayers. Under the first aspect, the threshold beyond […]
Read More »Italian PIRs, saving plans
The Budget Act 2017 (Legge di Stabilità 2017) has introduced the possibility for asset managers to establish tax-exempt investment plans at no extra costs for individual retail investors (piani individuali di risparmio or PIR), the Italian equivalent of the French plans d’épargne and the UK individual saving plans. The objective is to channel family savings […]
Read More »Corrective action 2017 – split payment
The split payment mechanism, governed by art. 17-ter of Presidential Decree n. 633/72 provides that VAT payable on supplies of goods or services provided by the supplier at the time of issue of the sales invoice, be paid to the treasury directly from the transferee of the operation. In essence, the purchaser “retains” the input […]
Read More »Abrogation of voucher – instructions
With the approval of the ddl n. 2784 as conversion of the Decree Law 25/2017 the provisions concerning occasional work accessory (the voucher) introduced by Legislative Decree n. 81/2015 have been canceled. The provision, however, states that vouchers can be used until December 31, 2017 provided that they have been required within the date of […]
Read More »