The “August Decree” has introduced a specific tax credit available for entities who execute advertising investments with leagues, sport clubs and associations.
Category: Newsalert
Electronic memorization and transmission of the consideration’s data: the clarifications in the Act no. 248558 published on June 30, 2020
With reference to the obligation of the electronic memorization and transmission of the consideration’s data, the most important update provides the postponement of the deadlines reported in the Act no. 1432217/2019 and in the Act no. 1432381/2019.
Ruling of the Italian Tax Authorities no. 47/2020 – Clarifications on the place of the provision of services concerning pleasure boats
The Italian Tax Authorities with the publication of the Ruling no. 47/2020 clarified that the place of the provisions of services of leasing, rental and similar of pleasure boats provided of the aforementioned articles can be considered excluded from the VAT taxable amount due to the lack of the territorial requirement only applying of effectiveness criteria, or if, through relevant means of proofs, can be demonstrate actual use and actual fruition of the service outside the EU territory.
National budget for the advertising bonus increased to 85 million euros. The request must be sent by 30 September
The "August Decree" increased the "Bounus Pubblicità; the national budget to be divided among the applicants has raised from 60 to 85 million euros, divided into 50 million for investments made in daily newspapers and periodicals, including online ones, and 35 million for investments made on local and national televisions and radio broadcasters, analogue or digital, provided that they are not owned by the State.
Published the implementing decree on the 140 million euro incentives for R&D/circular economy projects
The budget for incentives to support R&D available for this measure is € 140 million, of which € 100 million for the concession of subsidized loans and € 40 million in the form of direct contributions to the expenditure. The resources indicated above can be subsequently increased by MISE.
Article 110 Law Decree 104/2020 (August Decree) General revaluation of the business’ assets and of the participations
August Decree re-opens the voluntary revaluation of the assets, with the application of a very favorable substitutive tax rate (3%).
The latest amendments to the AIM Italia market rules under the market test
On august 14, 2020 the first company admitted to listing on the AIM segment reserved to professional investors named AIM PRO Italia.
Sharing and Gig Economy – EU aims to enhance the cooperation and the Automatic Exchange of Information
In the international framework of the automatic exchange of information, the major update introduced by DAC7 refers to online platform operators that should report information to the relevant Member State’s Tax Administration on those business players which use their platforms to sell their goods and provide their services to final users.
Published the decree implementing the tax credits for R&D, technological innovation, design and aesthetic ideation
The decree clarifies a series of important points, relating to the application of new tax credits and the qualification of the eligible activities, especially about technological innovation and design.
Costitutional Court rules on the interpretation of deeds subject to Italian registration tax
The Constitutional Court, with the judgment no. 158/2020 filed on July 21st 2020, clarified that, for the purposes of register tax, the Revenue Agency must apply the tax according to the nature of the specific act subject to the register tax and must not consider extraneous elements and circumstances to the same specific act subject to registration.