Tax residence of legal entities

Previous rules on tax residence of legal entities Art. 73 of the TUIR stated that companies were considered to be tax resident in Italy if, for the greater part of the fiscal year, alternatively: their legal seat was located in Italy; they were administered in Italy; the main object of … Read more

Control body of limited liability companies: limits change

A few months after the application of the new limits that provide for the obligation to appoint the control body in the limited liability companies, these limits have been revised. The appointment of the controlling body in limited liability companies now becomes mandatory when the company: 1. is required to … Read more

Equity crowdfunding: an opportunity for company development

Crowdfunding is the process by which a number of people contribute money, even small sums, to finance a business project or initiatives of various kinds using websites (“platforms” or “portals”) and sometimes receiving a reward in return. There are different types of crowdfunding. Among the most common are Reward Crowdfunding … Read more

Training bonus 4.0 extended to 2019

The training bonus 4.0. was introduced by the Budget Law 2018 (Law no. 205 of 27 December 2017, art. 1, paragraphs 46 and 56). The 2019 Budget Law then provided that the facility also applies to expenses incurred in the tax period following that in progress at 31 December 2018. … Read more

The R&D tax credit is not transferable

The tax credit recognised for research and development investments can only be used as compensation and therefore cannot be claimed back. Consequently, it cannot be sold pursuant to Article 43-bis of Presidential Decree no. 602 of 29 September 1973: this was specified by the Revenue Agency in its reply to … Read more

Reform of corporate crises: new obligations for supervisory bodies

The main changes include the introduction of new obligations for the company’s supervisory bodies, auditing firms, and the independent auditor. In particular, these parties will now have to: 1. verify that the administrative body constantly monitors the adequacy of the company’s organisational structure, its economic and financial equilibrium and the … Read more