Author: PwC TLS

Law No. 197/2022 concerning the “Budget of the State for the financial year 2023 and multiannual budget for the period 2023-2025” (“Budget Law”) was approved on 29 December 2022. In this document we briefly analyze the most significant changes introduced with regard to VAT, excise duties and certain consumption taxes (so called “Plastic tax” and “Sugar tax”).

Prepared by Cristian Sgaramella, Roberto Percoco, Valeria Saponaro and Adele Zuliani Article 16 of the EU Directive 2021/2167 has assigned the European Banking Authority ("EBA") the task of developing new criteria, so-called Implementing Technical Standars ("ITS"), so that all credit…

Read More “Implementing Technical Standars”: the EBA develops new technical models in NPL transactions

With the ruling reply no. 136, published on 23 January 2023, the Italian tax authorities provided clarifications on the VAT treatment of a chain supply with goods to be exported outside the territory of the European Union (hereinafter also “EU”).

With the replies to ruling no. 91 of January 19, 2023 and No. 157 of January 24 2023, the Italian tax authorities provided clarifications on the treatment applicable for VAT purposes (and, in reply to ruling no. 91, also for registration tax purposes) to the transfer of assets existing in the territory of the State forming part, respectively, of a partial demerger and a merger by incorporation occurred abroad between companies resident in European Union without a permanent establishment in Italy.

With the tax ruling reply no. 57/2023, published on January 17, 2023, the Italian tax authorities provided clarifications regarding the role assumed by an Italian permanent establishment (hereinafter also the “applicant”) in relation to an intra-community supply concluded by the German head office.

Following the success of the previous editions, also this year for the third time in a row the European Union Intellectual Property Office (“EUIPO”) decided to launch the financial support project designed to support the protection of intellectual property rights of small and medium-sized enterprises (“SMEs”) in the European Union (the “SME Fund” or the “Fund”).

The Italian tax authorities provided important clarifications related to the electronic invoice and to the cross-border communication during the Telefisco forum, held on 26 January 2023, and the subsequent conferences held with the specialized press.

Lately Governments and public bodies around the world are increasingly turning to algorithms for the purpose of supporting decision-making practices and delivering public services.

In its ruling reply No. 17 of last January 12, 2023, the Italian tax authorities commented on the concept of ancillary nature for VAT purposes of the sale of the extension of the legal warranty.

Some of the main 2023 tax deadlines.