In order to mitigate the increases of the gas’ cost, the article 2 of the Law Decree n. 130 of September 27, 2021 provides, as a temporary and emergency measure, the application of the 5% VAT rate for the supply of natural gas used for combustion for civil and industrial uses.
Category: Newsalert
The Supreme Court recognizes to foreign companies the right to receive refund of the tax paid in Italy on dividends distributed by resident companies
Decisions no. 26681/2022 and 26684/2022 lodged on September 9th, 2022 by the Italian Supreme Court, ruled in the cases related to two different Dutch banks which had suffered a 15% taxation on dividends distributed by an Italian company in the years 2005, 2006 and 2007.
Further clarifications provided by the Italian tax authorities on the VAT deduction related to the pharmaceutical payback
With the Ruling reply no. 440/2022 dated 29th August 2022, the Italian tax authorities provided clarifications with reference to a case submitted by a taxpayer related to the the possibility of recovering the VAT included in payback amount[1], according to the Law Decree no. 78/2015, on the procedures related to the years 2015 and 2020, for which, as a matter of prudence, the relevant VAT had not been deducted by the taxpayer.
Imports of goods whose amount is lower than 300 euro: registration of a recapitulative document
On August 3, 2022, the Italian Tax Authorities published the Ruling no. 417/2022 that confirmes that the economic operators, in order to deduct the import VAT related to the operations whose amount is lower than 300 euro, can issue a recapitulative document to be registered in the VAT ledgers on a monthly basis.
The settlement of the judicial tax controversies pending before the Italian Supreme Court
The law 31 August 2022, n. 130 (hereinafter, “Law”), published in the Official Gazette on 1st September 2022, sets forth new provisions related to the tax justice and the judicial tax proceedings. Specifically, Article 5 of the Law aims at reducing the burden of the Italian Supreme Court allowing taxpayers to settle the judicial tax proceedings with a low value and where taxpayers have won (also partially) in at least one of the prior instances of the merit.
The annual obligation to archive accounting books has been abolished
Prepared by Andrea Werner Beilin and Erika Luvarà Law Decree no. 73/2022 converted into Law no. 122/2022, introduced important news in relation to the archiving of the accounting books.In particular, the obligation to electronically archive, within three months following the…
Read More The annual obligation to archive accounting books has been abolished
New rules on parental leave and minimum requirements relating to working conditions have come into force on August 13, 2022.
Edited by Payroll and Employment Team On 29 July 2022 the Legislative Decree no. 105 of 30 June 2022 was published on the Official Gazette no. 176. The Decree implements the European Directive no. 2019/1158 which aims to improve the…
Place of supply for VAT purposes of training courses held in virtual mode
Prepared by Davide Accorsi e Giacomo Merenda With ruling reply 409/2022, published on 4 August, the Italian Revenue Agency clarified that the provision of training courses in “online” mode are VAT-relevant where the customer is established or resident, regardless of…
Read More Place of supply for VAT purposes of training courses held in virtual mode
Order no. 14908/2022 of the Italian Supreme Court: customs penalties and proportionality principle
With the Order no. 14908 dated April 13, 2022, filed on May 11, 2022, the Italian Supreme Court ruled that customs penalties, imposed by the Customs Authorities, must be proportionate, in other words commensurate with the gravity of the infringement committed by the taxpayer and not exceeding the limits of what is strictly functional to pursue the legislative intent.
A further case of deduction of VAT on importations of goods not owned by the importer
Allowed the deduction of VAT paid on the importation of “modified genes” not owned by the importer and destined to clinical trials conducted by third parties which, if successfully concluded, will allow the importer to market the relevant drugs obtained