Author: PwC TLS

The right to recover VAT beyond the annual year limit is also applicable in the event of non-payment of the consideration, in whole or in part, by the customer, starting from the date on which the latter is subject to an insolvency procedure or from the date of the decree that approves a debt restructuring agreement or from the date of publication in the register of companies of a certified plan.

"Plastic Tax" has been officially postponed to January 2022 by the Decree-Law "Sostegni bis".

Benefit Corporations, the Italian discipline on Benefit Corporations does not provide for exceptions to the general rules on corporate law, but introduces specific requirements that the Benefit Corporations must comply with.

With the Questioning no. 314 of April 30, 2021, the Revenue Agency provides clarifications regarding the tax treatment applicable to the sums paid as reimbursement to smart workers, stating that the sums paid by the employer to its employees, in order to reimburse the costs incurred from the same in carrying out their working activity, do not constitute income for workers, when they can be considered as expenses faced in the exclusive interest of the employer himself and on condition that they are identified on the basis of objective elements.

On May 25th, 2021, has been published in the Italian Official Gazette the law decree “Sostegni bis” (“Decree-law on urgent measures for the support of companies, work and professions, for liquidity, health and territorial services, connected to the emergency from COVID-19”), which entered into force on the following day, on May  26th, 2021.

On 18 and 19 March 2021, five legislative acts implementing the Law reforming sport were published in the Italian Official Journal (Law 8 August 2019, n. 86).

The Italian Supreme Court issued the ruling no. 12372/2021 concerning the binding effects of the minutes signed within a settlement agreement, highlighting some general criticalities and stating some fundamental principles with respect to the protection of legitimate expectations and to cooperation in good faith between taxpayers and the Italian Revenue Agency.

With the recent decision no. 11023 dated April 27, 2021, the Italian Supreme Court, Section V, analysed the qualification, for the purposes of the correct VAT treatment, of the relations arising from a sale and lease back, that is a sale agreement with a lease back.

On April 7th, 2021 the Italian Supreme Court issued an interesting ruling, the ruling no. 9307 of 2021, in which it affirmed that the solidarity contract may also be entered when a collective redundancy procedure is pending provided that, after the start of this last procedure, redundancies have occurred that could not be dealt with by the same.

By means of Decision no. 371/2021, the Agency for Digital Italy (AgID) has extended the entry into force of the Guidelines on the formation, management and retention of IT documents to 1 January 2022.