ECOBONUS and SISMABONUS 2020

With Legislative Decree No. 131 of 3 August 2022, European Regulation No. 2017/2402 was transposed into national law.
It made significant changes to the regulatory framework of securitization transactions by introducing the figure of “simple, transparent and standardized” securitizations with the aim of forging a “virtuous” market for the financial instruments related to them.

Throughout the Circular, the Italian Revenue Agency pointed out that as a best practice for tax risk management, taxpayers are encouraged to perform an appropriate anti-hybrid analysis, also by cooperating with associated enterprises, to understand whether any hybrid mismatches arrangements have arisen along their organization structure before submitting the income tax return. The analysis would enable them to collect an accurate probative documentary set (“anti-hybrid Dossier”) explaining the hybrid mismatches’ assessment process they developed and implemented to determine their taxable base for income tax purposes.

With the answer to Ruling No. 442/2022 dated 2nd September 2022, the Italian Tax Authorities provide clarifications on a case submitted by a taxpayer on the VAT registration in Italy through the appointment of a VAT representative according to Article 1, paragraph 4 of the Presidential Decree No. 441/1997.

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.

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.