The Draft Legislative Decree On Construction Bonuses And Tax Benefits Of 26 March 2024 – Key Aspects

As anticipated in a press release, on 26 March 2024 the Council of Ministers of Italy approved a new Draft Legislative Decree regarding Construction Bonuses and Tax Benefits.Below is a summary of the key aspects of the Draft Decree.  The Draft Decree erases the possibility of applying for remissio in bonis (i.e. the possibility of […]

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Input VAT deduction in case of leveraged buy-out

The Tax Court of Justice of Lombardy, second instance, stated a key principle in Ruling No 3755/2023: the input VAT related to the transaction costs incurred into in the context of a merger leveraged buy-out transactions (MLBO) can be deducted. The transaction costs include all the expenses borne for carrying out a MLBO, including but not […]

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The halting of the proceedings in the event of insolvency.

Court proceedings are not interrupted despite the declaration of insolvency if the respondent voluntarily appears in court. The former employee of a company subject to insolvency procedure through judicial administration (Legislative Decree No. 270/1999) sued the said company as per art. 404 of the Italian Code of Civil Procedure

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Update on labour and social security – Exemption for working mothers.

Premise. The Budget law 2024 (law of December 30, 2023, n. 213, art. 1, co. 180/182), established an exemption in favour of working mothers who meet certain requirements, for payment periods between January 1, 2024 to December 31, 2026, over the 100 percent of the contribution rate to social security (IVS quota) paid by the […]

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Conversion Into Law Of The Tax Decree Ancillary To The Budget Law 2024 – Main Tax News

The Italian Government, approving the Law n. 191/2023 (hereinafter also “the Law”) has converted into law the Decree No 145/2023 (so-called “Anticipi” Decree) linked to the Budget Law for the financial year 2024. For a detailed analysis, please refer to our Tax Update No 11/2023. Herewith an overview is presented of the main tax update […]

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The 2024 Budget Law Prohibition On Horizontal Offsetting If There Are Overdue Roles Exceeding € 100,000.00

By adding the new paragraph 49-quinquies into Article 37 of Law Decree no. 223/2006, Article 1, paragraph 94 of Law no. 213/2023 (2024 Budget Law) introduced a prohibition on credit’ offset in case of tax assessment notices exceeding € 100,000.00. The new rule will be effective from July 1st, 2024. In particular, the provision establishes that the right […]

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DAC 7 The Italian disclosure obligation for the digital platform operators begins.

The Italian Government has approved the Legislative Decree no. 32/2023 (hereinafter the “Decree”), implementing the European Directive 2011/16/EU (hereinafter “DAC 7”); the mandatory Italian disclosure obligation is underway. In general terms, the DAC 7 aims at collecting the data and information related to the transactions carried out on the digital platforms, which allow economic operators […]

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BUDGET LAW 2024 Taxation on the creation of  the real estate rights

Bad news from the Law No 213 of 30.12.2023 (s.c. Budget Law 2024) on the creation of real estate rights: by amending art. 9 § 5 and introducing the new art. 67 § 1 let. h) of Law Decree 917/1986, the capital gains generated on the transfer of any real estate rights of use (not […]

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Renewable energy communities: European commission approves Italian draft decree

The European Commission, in a note dated 22 November 2023, announced the approval of Italy’s draft decree for improving energy self-use from renewable sources (“Decree”) pursuant to EU State aid rules. This is a very important step on the path mapped out by the European Green Deal for 2030, whose decarbonisation goals could also be […]

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Data communication on electronic payment – implementation of Directive (EU) 2020/284

The Italian Government has approved Legislative Decree no. 153 of October 18th, 2023 (hereinafter also the “Decree”), implementing the EU Council Directive (EU) 2020/284 which has introduced the obligations for payment service providers (hereinafter also “PSPs”) to collect and store the information on “cross-border payments”. In particular, the Decree has amended the Italian VAT Code […]

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