Published in the Official Journal of the European Union on 9 June 2023 the first European Regulation aimed at harmonising the regulation of crypto-assets among Member States (Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on crypto-asset markets and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937).
Category: Newsalert
The New Consob Regulation on Crowdfunding
On the 1st of June 2023, Consob published the "Regulations on crowdfunding services", adopted by Resolution No. 22720, following the public consultation held in March 2023.
Operations begin for the Unified Patent Court: the Milan office between opportunities and knots to unravel
The new unitary patent system opens for business on 1 June 2023, when the International Agreement on the Unified Patent Court (UPC) enters into force.
Flood emergency: the announced measures to handle the emergency caused by flood events occurring on or after May 1st, 2023
During session No. 35 of May 23rd, 2023, the Italian Council of Ministers approved, among others, urgent measures to address the emergency caused by the flooding events that occurred as of May 1st, 2023, as well as in the energy sector, which will be included in a Decree Law whose final text is currently being finalized and will soon be published.
Carbon Border Adjustment Mechanism (CBAM) – The regulation was published in the Official Journal of the European Union
On 16 May 2023, EU Regulation 2023/956 was published in the Official Journal of the European Union, establishing a carbon border adjustment mechanism (CBAM).
New law on “fair compensation”: first operational impacts for professionals and companies
On 20 May 2023 the Law on Fair Compensation (Law No. 49 of 21 April 2023, published in the Official Gazette General Series No. 104 of 5/5/23) will come into force, with major impacts on professionals and companies, both in terms of costs (for the companies concerned) and in terms of contractual relations between the parties and the instruments of protection for the professionals involved.
Triangular exports not configurable if the transport is carried out by the first acquirer in its own name and on its own behalf
With the reply to ruling No. 283, dated April 4, 2023, the Italian tax authorities commented on the possibility or not to configure triangular exports exempt from VAT with right to deduct according to Article 8, paragraph 1, letter a), Presidential Decree No. 633/1972, in an articulated case presented by the applicant Alfa, a company incorporated under the Italian law mainly involved in the engineering of installations (or parts of installations) located in EU and non-EU countries.
Superbonus, specially constituted condominium, and appealability of notice of prior “blocking” of credit assignment
The Tax Court of First Instance of Trieste in Judgment No. 81 filed on April 11, 2023 ruled for the first time, as part of a dispute on the annulment of the notice for the exercise of the option under Article 121 of Decree-Law No. 34/2020 (so-called "Relaunch Decree").
Skandia principles do not apply in the case of a UK VAT Group
By means of Ruling No. 314 of 8 May 2023 (“Ruling No. 314/2023”), the Italian tax authorities provided important clarifications on the VAT treatment of transactions between an Italian branch (hereinafter also “Applicant”) and another branch of the same legal entity, established in the United Kingdom (“UK”) and participating in a VAT Group set up therein.
Unlawful service contracts: the executive power exercised directly by the client through computerized devices is relevant in order to check the service contracts’ lawfulness
The Court of Padua recently ruled (3/3/23), in a case in which, in the context of a logistics contract, the forklift drivers employed by the contractor used, for the performance of the contracted activities, some tools owned by the client.