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We know how much is important to stay informed and up-to-date with the latest news so we have made available in this section a selection of the most relevant  accounting, tax and regulatory developments, including those concerning HR and payroll management.

BACKGROUND

The Law no. 155/2017 enforced important news for what concerns Audit requirements for Limited Liability Companies (S.R.L.), modifying the limits set by article 2477 of the Italian Civil Code.

Subsequently, the requirement contained in the Law has recently been enforced  by the Code of Corporate Crisis and Insolvency, ruled by the Legislative Decree no. 14/2019, published on the Official Gazette on February 14th 2019.

Therefore the new rules become applicable starting March 14th 2019.

With the new regulation the limits set for the appointment of the Audit Body become lower, causing as an immediate effect – for S.R.L. involved – the obligation of modifying the Incorporation Deed and the Memorandum of Association (Statute) where needed, together with the appointment of a new Audit Body (Board of Auditors plus Accounting Auditors or Sole Auditor).

AUDIT BODY FOR Srl: NEW LIMITS ENFORCED IN 2019 (WITH REFERENCE TO YEARS 2017 AND 2018)

The new regulation on Audit Body in SRL has modifie...

La Legge numero 155/2017 ha introdotto importanti novità in materia di Organo di Controllo (OdC) delle Srl, modificando i limiti previsti in precedenza dall’articolo 2477 del codice civile.

Successivamente, la delega contenuta nella legge in oggetto è stata attuata recentemente dal Codice della Crisi d’impresa e dell’insolvenza, varato con il Decreto Legislativo numero 14/2019, pubblicato in Gazzetta Ufficiale il 14 Febbraio 2019.

Quindi le nuove norme sono entrate in vigore a partire dal 14 Marzo 2019.

Organo di controllo Srl: nuovi limiti in vigore dal 2019 (ma con riferimento agli esercizi 2017 e 2018)

Con la nuova normativa i parametri previsti per la nomina dell’Organo di Controllo diventano più stringenti, producendo come effetto immediato la necessità - per le Srl coinvolte - di modificare atto costitutivo e statuto (se necessario), contestualmente alla nomina del nuovo organo di controllo (collegio sindacale e revisori o revisore unico).

La nuova normativa sull’organo di contro...

La valutazione degli intangibili e il metodo profit split aggiornano le linee guida sui prezzi di trasferimento

Chiarire, semplificare ed uniformare. Sono questi i principi su cui si basano le recenti guide dell’Ocse che hanno ad oggetto le modalità di valutazione dei beni immateriali (intangibles) e l’applicazione del metodo reddituale profit split. L’ambito è circoscritto alle regole che definiscono la valorizzazione delle transazioni cross-border tra imprese associate. I nuovi documenti, che rappresentano un follow up del report Aligning Transfer Pricing Outcomes with Value Creation, pubblicato nel 2015 all’interno del progetto OECD/G20 BEPS (Base Erosion and Profit Shifting) a conclusione delle Actions 8-10, hanno come obiettivo primario quello di favorire l’implementazione delle nuove misure. In particolare, la guida sulla valutazione degli intangibili si rivolge alle amministrazioni fiscali, proponendosi come obiettivo quello di individuare criteri condivisi da seguire nel caso di...

STABILE ORGANIZZAZIONE, OCSE, PERMANENT ESTABLISHMENT

September 1, 2017

Starting from 2017, Italian companies with permanent establishments abroad can benefit from the “branch exemption” scheme. With a widespread provision yesterday, the Italian Tax Agency has defined the rules for the option for tax exemption scheme of the permanent establishments set by Article 168-ter of Income Tax Italian Law (TUIR).

The option is exercised in the tax return relating to fiscal year when the branch has been established, while for branches already existing as of October 7, 2015 (and for those established until December 31, 2016), the parent can opt in the Tax Return 2018, with effect from 2017 tax period.

Article 168-ter of TUIR, introduced by Legislative Decree 147/2015, provides for the chance, for Italian companies having permanent establishments abroad, to opt for the exemption from taxation in Italy of the profits (and use of losses) best produced by these entities in the country of their establishment (so-called “Branch Exemption”).

Implementing rules

By this last deci...

September 2, 2016

1 PREMESSA

La L. 7.7.2016 n. 122 (legge europea 2015-2016) contiene numerose disposizioni per l’adempi­mento degli obblighi derivanti dall’appartenenza dell’Italia all’Unione europea.

La L. 7.7.2016 n. 122 entra in vigore il 23.7.2016 (quindicesimo giorno successivo alla sua pub­bli­cazione sulla G.U. 8.7.2016 n. 158). Tuttavia, per alcune disposizioni sono previste specifiche de­correnze.

Di seguito si segnalano le principali novità.

2 MODIFICHE AL REGIME DEI DIVIDENDI

L’art. 26 della L. 122/2016 modifica le modalità di tassazione degli utili di fonte estera, con effetto dall’1.1.2016.

2.1 AMPLIAMENTO DEGLI UTILI DETASSATI NELLA MISURA DEL 95%

Con apposite modifiche all’art. 89 del TUIR, il regime di detassazione degli utili è stato esteso ai redditi degli strumenti finanziari assimilati alle azioni, per il 95% della parte non deducibile nella deter­minazione del reddito dell’emittente, se:

  • l’emittente è una società di capitali o un ente commerciale residente in uno Stato comunitario ed è...

February 17, 2015

Successive surveys of tax executives and senior finance professionals at multinational companies show that risks associated with transfer pricing have become the number one tax-related concern for businesses operating across several jurisdictions.

Ernst and Young's (EY's) latest Global Transfer Pricing Survey shows that businesses are taking increasing heed of global headlines on multinationals' tax affairs, with EY finding that, overall, 66 percent considered risk management their most pressing issue, up 32% from the same survey conducted in 2010.

The report also finds that companies are experiencing a significant increase in unresolved transfer pricing examinations and facing increased penalties and interest when tax authorities formulate assessments. 

Nearly half of the survey respondents (47%) reported experiencing double taxation as a result of a transfer pricing audit. Twenty-four percent of parent companies reported being subject to tax penalties in the past three years, in co...

January 20, 2015

1. ABSTRACT

Starting from January 1st 2015 a particular mechanism, also known as “split-payment”, has been enforced by the Italian legislator: this foresees that the VAT charged on all invoices for the sale of goods and services to an entity considered as part of the Italian Public Administration has to be paid by the entity itself and not by the supplier (as usually happens).

The reference law is the Law 190/2014, paragraph 629, letter b), published on the Italian Official Gazette nr. 300 dated December 29th 2014, Ordinary Supplement nr. 99, that has added the new article 17-ter to the VAT general law (Republic Presidential Decree nr. 633/1972) with title: “Exchanges made with Public Entities”

 

2. SUBJECTS

First of all we need to understand which are the entities that are considered as part of the Italian Public Administration. Article 17-ter, paragraph 1, makes a reference to the sales of goods and service made to:

  • Italian State;

  • Italian State’s authorities incorporated as legal...

January 19, 2015

1. ABSTRACT

The Legislative Decree 175/2014 (called “Simplifications”) has been published on the Italian Official Gazette nr. n. 277/2014, bringing the first important fiscal simplifications foreseen by the Law 23/2014 (called “Tax Proxy”).

Here below we analyse the simplifications regarding the international taxation, considering also the first clarifications issued by the Italian Tax Agency.

 

2. THE NEW DECLARATION OF INTENT

The letter of intent is the communication that an ordinary exporter (every economic operator with exportations exceed the 20% of its annual turnover) can send to its customers asking them to exempt from VAT amounts charged in their sales invoices.

Until the modifications introduced by article 20 of the Legislative Decree 175/2014, the Italian supplier needed to file a communication to the Tax Agency with information included in the Letter of Intents received from its customers (ordinary exporters). The missed filing caused the joint liability of the supplier and the c...

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