The European Union has adopted new rules in order to update the regulation of financial services concluded at a distance in the light of the digital transformation that has been underway for several years now and which has increased the use of digital tools by consumers, also with regard to the conclusion of financial services.
On 3 November 2023, Legislative Decree no. 153 of 18 October 2023 (hereinafter, "Implementing Decree") was published in the Italian Official Gazette. The Implementing Decree has implemented in Italy the Council Directive (EU) 2020/284 of 18 February 2020 (hereinafter, "CESOP Directive") amending Council Directive 2006/112/EC with regards to the introduction starting from 1 January 2024 of certain obligations for Payment Service Providers (hereinafter, “PSPs”) with reference to "cross-border" payments. The Implementation Decree entered into force on 18 November 2023 and will apply to cross-border payments made from 1 January 2024.
Crowdfunding: Bank of Italy consultation paper.
In implementation of the tax reform mandate, on 3 November 2023, the Council of Ministers preliminarily approved the draft legislative decree that will introduce provisions on tax assessment.
On 8 November 2023, the European Banking Authority (EBA) put out for consultation additional technical standards and Guidelines pursuant to the so-called Market in Crypto-Assets Regulation (MICA), i.e. Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets.
The 2024 Budget Bill could introduce significant changes in relation to the Italian wealth taxes on assets held abroad by subjects who are tax residents of Italy.
Prepared by Lorenzo Ontano, Andrea Casalini and Anna Tripodi As of November 7, it should have become mandatory to adhere in the real environment to the new declaration modalities for export operations (AES-P1) and transit (NCTS -P5), introduced as part of…
With the reply to ruling no. 447 of 13 October 2023, the Italian tax authorities provided some clarifications on the correction methods to be adopted in the event of unconscious duplication of output electronic invoices.
The new Directive on consumer credit - the Directive (UE) 2023/2225 dated 18 October 2023, cd. CCD II – it has been published on the Official Journal of the European Union at the end of the consultation process started in June 2021 by the European Commission.
On September 29, 2023, the Law Decree n. 131/2023 (so-called "Decreto Energia") was published on the Italian Official Journal.