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
The deadline by which ONLUSes, voluntary organizations and social promotion associations will be able to adapt their statutes to the Third Sector Code with simplified majorities, ie with the majorities provided for in the resolutions of the ordinary assembly, has been extended to 30 June 2020 . The same extension … Read more
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
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
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
For the purposes of calculating the tax credit for research and development pursuant to art. 3 of Legislative Decree 145/2013, the capitalised costs of the patents are recorded on an accruals basis in individual periods, regardless of the starting date of the amortisation process. This has been clarified by the … Read more
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
Law no. 124, art. 1, paragraphs 125-129 of 4 August 2017 introduced a series of publicity and transparency obligations for a number of parties that have economic relations with the Public Administrations or other public parties or with the parties referred to in art. 2-bis of Legislative Decree no. 33/2013. … Read more
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
The Budget Law 2019 (Law 145/2018) amended, with effect from 2019, the regulation of the tax credit for Research and Development. The main changes concern (for the years 2019 and 2020): – the extension of the number of eligible expenses; – the measure of the facility, which returns to the … Read more
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