Clarifications by the Italian tax authorities regarding the person entitled to issue credit notes in the case of subrogation according to Article 1916 of the Italian Civil Code

By means of Ruling no. 427, dated September 11, 2023 (“Ruling No. 427/2023”) the Italian tax authorities provided important clarifications regarding the issuance of credit notes pursuant to Article 26, Presidential Decree No. 633/1972 in the event that the credit claimed by the policyholder/provider has been indemnified by an insurance company with the consequent subrogation pursuant to Article 1916 of the Italian Civil Code.

Digitalization of customs bill of export, new features and timing for activation

Prepared by Lorenzo Ontano, Marta Marrapodi and Silvia Sciortino As of August 2022, the Italian Customs Authority, released a set of notes as part of the re-engineering project of the applications for the electronic management of export declarations. The new…

Limits to the right of VAT deduction in the case of late ‘viewing’ of electronic purchase invoices

With the Ruling reply no. 435/2023, the Italian tax authorities provided clarifications on the VAT deduction in the case of late “downloading” of electronic invoices sent by the Interchange data system of the Italian tax authorities (“SdI”) into the so called “put on disposal” area of the tax portal “Fatture&Corrispettivi”.

Raising of Fringe Benefit threshold up to €3,000: clarifications from the Italian Tax Authority

On August 1st, 2023, the Italian Tax Authority (hereinafter “ITA”) with Circular No. 23/E provided the awaited clarifications regarding article 40 of Law Decree 48/2023 (the so-called “Decreto Lavoro”), which provides for the raising of the exemption threshold - up to €3,000 - for fringe benefits granted by the employer to employees with children who are tax dependents pursuant to Art. 12, para. 2 of the Presidential Decree no. 917/1986 (hereinafter “TUIR”).

EU Directive 2023/970: gender pay gap and disclosure on employees’ remuneration

This past May 10th, 2023, the European Parliament and Council approved the final version of the EU Directive no. 2023/970, which aims at strengthening the application of the principle of equal pay for men and women for equal work, or work of equal value, through pay transparency and related enforcement mechanisms. This Directive, which was published in the EU Official Gazette on May 17th, 2023 and entered into force 20 days after that date, is not directly applicable, as it is addressed to the EU Member States (Italy included), which will have to comply with it by June 7th, 2026.

Circular of the Italian Tax Agency on the tax profiles of remote work and the tax discipline of frontier employees following the innovations set out in Law no. 83/2023 on the ratification of the Italy-Switzerland agreement

On August 18th, 2023, the Italian Tax Agency published the circular no. 25/2023 in which it overviewed and summarized the most recent developments in the legislation and practices on the taxation of work performed through the use of agile work (so-called "smart working") and on the subject of frontier work, in light of the changes introduced by the latest bilateral agreement between Italy and Switzerland and by Law no. 83/2023 ratifying the latter.

Clarification by the Italian tax authorities on input VAT deduction incurred on the purchase of residential buildings

Edited by Alessia Zanatto, Maria Chiara Turio Bohm, Andrea Carbone By means of Ruling no. 392, dated July 24, 2023 ("Ruling no. 392/2023"), the Italian tax authorities provided important clarifications regarding the deductibility of input VAT for transactions involving the…

The European Commission approved the proposal to make the whole of Southern Italy a Special Economic Zone

Last 13 July the Minister for European Affairs, the South, Cohesion Policies and the PNRR, Raffaele Fitto, met in Brussels with the Executive Vice-President of the European Commission and Commissioner for Competition, Margrethe Vestager, who welcomed the proposal relating to the establishment of a whole Special Economic Zone (ZES) which includes all the regions of the South. The Government's proposal aims to extend to the whole of Southern Italy the procedures of simplification and acceleration of the investments and the tax supports provided to companies that set up or invest in the ZES.