Category: Newsalert

Below it is reported a review the main changes relating to incentives for businesses introduced by the Budget Law 2023 (law n. 197/2022).

The Official Gazette No. 205 of 2 August 2022, General Series, published Legislative Decree No. 131, which entered into force on 3 September 2022, amending Legislative Decree No. 58/1998 “Testo Unico della Finanza” (“TUF”).

With the reply to ruling no. 32/2023 of January 13, 2023, the Italian tax authorities provided additional clarifications on the recovery of VAT charged in case of regularization of indirect exports referred to in Article 8, paragraph 1, letter b), of Presidential Decree no. 633/1972, updating the clarifications previously provided with Resolution no. 98/E of 2014, in the light of the regulatory changes on methods and timing within which exercise the right to deduct VAT introduced by Law Decree no. 50 of April 24, 2017, converted, with amendments, by Law no. 96 of June 21, 2017.

With its recent ruling replies No. 51 and 58, published last Jan. 17, 2023, the Italian tax authorities returned to the issue of intra-EU distance sales and the One Stop Shop (so-called "OSS") regime.

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.