The Decree of the Ministry of Enterprise and Made in Italy on "Certification of the operation of the system for reporting data and information on beneficial ownership" was published in Official Journal No. 236 of 9 October 2023. The mandatory deadline of sixty days (11 December 2023) to make the telematic disclosure of beneficial ownership data and information to the Register of Beneficial Owners begins on that date.
INFLUENCER MARKETING: AGCOM OPENS A PUBLIC CONSULTATION AND ANNOUNCES ITS GUIDELINES
On July 13, the Italian Authority for Guarantees in Communications (AGCOM) passed Resolution No. 178/23/CONS. The resolution approves a public consultation that aims to ensure that influencers follow the specific measures related to media services. This is being done to extend transparency and compliance regulations to influencers.
September 2023. It contains "Urgent provisions on extension of regulatory deadlines and tax payments," hereinafter also referred to as the "Decree."
The Decree includes two important news:
the anticipation of the deadline for the use of credits recognized to companies for energy and gas consumption related to the first and second quarter 2023;
the extension of the deadline for the completion of facilitated assignment and transfer of company’s assets to shareholders and facilitated transformation into a simple company.
OMNIBUS DIRECTIVE: WHAT’S NEW FOR WEBSITES AND E-COMMERCE
From July 1, 2023, regulations on price reductions under the "Omnibus Directive" (Directive (EU)2019/2161) are fully enforceable in Italy. The Directive was implemented through Legislative Decree No. 2023/26 and partially enforced on April 2, 2023. What’s new for websites and e-commerce?
Protection is guaranteed to persons that report breaches of national and Union law that are harmful to the public interest or the integrity of a government authority or private entity, which they became aware of in the context of government or private employment (for instance, accounting, administrative, civil-law or criminal law infringements, breaches of the Organization Model under Leg. Dec. 231/2001, actions or omissions that are harmful to the financial interests of the EU, breaches of competition regulations).
On February 17, 2023, Germanyratified the Agreement on the Unified Patent Court (UPC), thus triggering the countdown to its entry into force (according to its Article 89) on June 1st, 2023 with the launch of the Unified Patent Courtand the European patent with unitary effect.
On September 22, 2022 Law No. 142 dated 21/09/2022 converting Decree Law No. 115 of 09/08/2022 came into effect. This Decree Law regulates, among other thing, “repayment procedures for exceeding the disbursement cap applicable to medical devices and pharmaceuticals.”
Click here to read the newsletter drafted in Italian by our administrative law team.
DL No. 73/2022 on “Urgent measures on the simplification of taxation and on delivery of clearance to employment, State Treasury and additional social and financial regulations” was published in Official Journal No. 143 dated 21 June 2022. Major new provisions are recapped in the attached file.
Effective 1 July 2022, the report of data on cross-border transactions (so-called “new esterometro”) concerning sales and purchases of goods and services completed on and after such dated must be submitted with a new system which is similar to the system applicable to electronic invoices. Major new provisions are recapped in the attached file.
Decree Law No. 50 of 17 May 2022 on “Urgent measures on domestic energy policies, business productivity and attracting investments, as well as on social policies and the Ukraine crisis” was published in Official Journal No. 114 of 17 May 2022.
Major new provisions are recapped in the attached file.
The Revenue Agency published its Regulatory Provision No. 143438 dated 27/04/2022 containing procedure, filing deadlines and contents of the form of Affidavit for COVID State Aids received based on Communication from the European commission of 19 March 2020 C (2020) 1863 final, aimed to enable beneficiaries to benefit from ceilings in Section 3.1 “Limited amount of aid” and Section 3.12 “Aid in the form of support for uncovered fixed costs” in the Communication from the European commission of 19 March 2020. The attached file describes major elements of the Regulatory Provision.
Conversion into law of DL 30.12.2021 n. 228 (MILLEPROROGHE)
Law no. 15/2022 converting Decree Law no. 228/2021 (so-called “1000 Extensions Decree”) was published in the Official Journal on 28 February 2022 and introduced urgent provisions on statutory deadlines. The law came into force on 1 March 2022.The file attached describes major changes.
New Patent Box – The Regulatory Provision of the Revenue Agency
On 15 February 2022, the Revenue Agency published Regulatory Provision no. 48243/2022 (the “Regulatory Provision”), containing implementing provisions, the definition of elements of information to be disclosed in Appropriate Documentation, and the definition of the procedure to exercise options, in connection with the new Patent Box regulations (hereinafter also “new Patent Box”).
The attached file reviews the contents of the Regulatory Provision
Decree law no. 4 (Support III Decree) was published in the Italian Official Journal on 27 January 2022. It introduced urgent measures to support businesses and economic players, employment, healthcare, and local services in connection with the COVID-19 outbreak, and measures to contain the impact of electric power price increases. The Decree Law came into effect on 27 January 2022.
The attached file recaps the contents of the Decree.
Monitoring and control of State Aids in the Covid-19 outbreak – D.M. 11 December 2021 of the Ministry of the Economy and Finance
Ministerial Decree dated 11 December 2021 of the Ministry of the Economy and Finance was published in Official Journal no. 15 of 20/01/2022. It defines the procedures to monitor and control state aids granted based on the Communication from the European Commission of 19 March 2020 C(2020) 1863 final “Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak”, implementing article 1, para. 13-17, of D.L. no. 41/2021 (Support Decree).The file attached recaps the contents of the Decree.
Law No. 234 of 30 December 2021 (hereinafter “2022 Budget Act”) was published in Italian Official Journal no. 310 of 31 December 2021 and became effective on 1 January 2022.
Major new tax provisions are recapped in the file attached.
Requirement to prior report occasional self-employed workers
On 20 December 2021, Law no. 215 of 17 December 2021 was published in the Italian Official Journal. It converted into law, with amendments, Decree Law no. 146 of 21 October 2021 which introduced effective 21 December 2021 a new reporting requirement aimed to serve as “monitoring and fight against forms of avoidance of regulations” in the employment of occasional self-employed workers.
On 11 January 2022, by Note ref. 29/2022, the National Labor Inspectorate (hereinafter “NLI”) defined operating instructions for employers that need to comply with such requirement.
On 20 December 2021, Law no. 215 dated 17 December 2021 was published in the Italian Official Journal. It converted into law, introducing amendments, Decree Law no. 46 of 21 October 2021 on urgent tax and economic measures to protect employment and for non-deferrable needs.
Major changes introduced by the Law are described in this paper.
Article 19 of DL 73/2021 (so-called “Support II Decree”), converted into law with amendments by Law No. 106 of 23 July 2021, introduced certain new provisions concerning application of the “ACE” tax benefit (Aiuto alla Crescita Economica – Economic Growth Aid) for the fiscal year following the one in progress on 31.12.2020 (FY 2021).
LaThe Law converting Law Decree no. 41 of 22/03/2021 (hereinafter “Law 69/2021”) was published in Italian Official Journal no. 120 dated 21 May and came into force on 22 May 2021.
Covid-19 Vaccines. Is waiving patent protection really the solution?
The COVID-19 epidemiologic emergency recently lit a broad debate on the patent protection of Covid-19 vaccines.
The issue was first raised by India and South Africa, which asked the World Trade Organization (WTO) to take a decision to lift the application of the regime of patents and other intellectual property rights related to vaccines.
Law Decree no. 41 dated 22/03/2021 (hereinafter “Support Decree”) was published in Italian Official Journal no. 70 dated 22 March 2021 and it became effective on 23 March 2021.
From 1 March 2021 to 31 March 2021 taxpayers may file the notification to benefit from the tax credit on investments in advertising campaigns, so-called “advertising bonus”, made or that will be made in the year 2021.
The “Notification to benefit from the tax credit” has to be submitted to the Department for Information and Publishing of the Presidency of the Council of Ministers through the online services made available by the Revenue Agency.
Submitting this notification fulfills the function of “making a reservation” for the bonus. Investments must be confirmed by transmitting an “Affidavit of actual investments” from 1 January to 31 January of the following year.
Businesses, the self-employed and noncommercial entities are eligible for the benefit in connection with investments in advertising campaigns on the daily and periodic press, including on digital media, and on local television and radio broadcasters.
The attached file describe the specific features of the tax credit for the year 2021.
The 2020 Budget Act introduced a tax credit for investments in new capital equipment made starting from 1 January 2020, including intangible assets functional to the technological transformation under the “Industry 4.0” model. The 2021Budget Act (Law no. 178/2020) then introduced some changes.
In this paper, you will find percentages to calculate the tax credit, as well as required documents, listed for you.
Recommendation to download declarations from your Tax Box
The “Growth Decree” (D.L. 30 April 2019, No. 34 – art. 12-bis) and the relevant Implementing measure dated 27 February 2020, Ref. No. 96911/2020 of the Director of the Revenue Agency repealed the obligation for exporters to deliver declarations of intent to their foreign suppliers or service providers.
Law no. 178 of 30 December 2020 (hereinafter “2021 Budget Act”) was published in Italian Official Journal no. 322 dated 30 December 2020 and became effective on 1 January 2021.
The following paragraphs concisely recap major new tax provisions.
Regulatory Provision of the Revenue Agency dated 26 November 2020 – procedures and time limits to file information on reportable cross-border arrangements
On 26 November 2020, the regulatory provision of the Italian Revenue Agency containing the procedures and time limits to file information on reportable crossborder arrangements was published. The Regulatory Provision outlines the implementing provisions of Leg. Dec. No. 100 of 30 July 2020, and of the decree of the Ministry of the Economy and Finance dated 17 November 2020.
The following paragraphs briefly recap the contents of the Regulatory Provision under review.
Min. Dec. 17 November 2020 – Technical Rules and Procedure on the Mandatory Automatic Exchange of Information on Cross-Border Arrangements
On 17 November 2020, the Minister oft he Economy and Finance issued a specific ministerial decree defining the technical rules and procedure for the mandatory automatic exchange of information on cross-border arrangements reportable to the Italian Revenue Agency.
The Decree was issued under art. 5,para 2 of Leg. Dec. no. 100, dated 30July 2020, which implemented theDAC6 Directive on the mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements.
The following paragraphs recap the contents of the Ministerial Decree under review.
Law Decree no. 157 of 30 November 2020, called “Compensation Decree IV”, includes additional urgent measures connected with the Covid-19 epidemiologic emergency.
The wording of the Decree was published in Italian Official Journal no. 297 dated 30 November 2020 and became effective on 30 November 2020.
The following paragraphs briefly recap the main provisions of the Decree.
TRANSFER PRICING | New Documents to prevent the application of penalties
On 23 November 2020, the Revenue Agency published Regulatory Provision no. 360494, with which it implemented Art. 8 of Min. Dec. 14 May 2018 requiring the revision of regulations on transfer pricing documents. This Regulatory Provision radically changed the manner of preparing transfer pricing documents appropriate to ensure penalty protection to taxpayers.
The attached paper briefly recap the provisions of this Regulatory Provision.
Law Decree No. 137 dated 28 October 2020, called “Compensation Decree”, includes additional urgent measures on the protection of health, support of workers and companies, justice and safety, connected to the Covid-19 epidemiologic emergency. The text of the Decree was published on Italian Official Journal no. 269 dated 28 October 2020 and came into force on 29 October 2020.
Businesses, artists and professionals, non-commercial entities including third-sector entities and religious entities recognized for civil law purposes, are eligible for a tax credit for costs incurred in 2020 to sanitize and for the purchase of personal protection equipment (PPE).
In this paper is about terms for communication and how to use the tax credit.
Businesses, artists and professionals, that operate in places that are open to the public, i.e., only the ones listed in the specific list based on the ATECO 2007 classification, and associations and foundations and other private entities including third-sector entities, are eligible for a tax credit for works and investments needed to comply with health requirements and measures to contain the spread of the Covid-19.
In this paper is about terms for communication and how to use the tax credit.
TAX | Write-up of company assets and shareholdings
Law no. 40 of 5 June 2020, published in Italian Official Journal no. 143 dated 6 June 2020, converted into law with amendments DL 23/2020, the so-called Liquidity Decree. New provisions introduced upon conversion include amendments to the write-up of company assets and shareholdings under art. 6-bis “Provisions to support the hotel and spa’s industries” and art. 12-ter “Provisions on corporate assets” (which applies to all other companies).
Law Decree no. 34 of 19 May 2020, so-called “Relaunch” Decree, sets out urgent measures on health, support to employment and the economy, and social plans connected to the COVID-19 epidemiologic emergency.
In this paper, you fill find the main new provisions.
Covid-19 emergency response updates | DATA PROTECTION AND CYBERSECURITY
On 24 April 2020, the “Shared protocol regulating measures to fight and contain the Covid-19 virus in work environments” (the “Protocol”) was revised. The implications on personal data are illustrated in this newsletter.
Resuming productive activities and Company agreements to regulate necessary measures to contain the risk of Covid-19 infection, updated with the latest changes in the Protocol shared between the Government Administration – Employers’ Associations and Trade Unions, dated April 24, 2020.
Major provisions in the area of labour contained in Law Decree No. 18, dated March 17, 2020 (so-called "Cura Italia" Decree), supplemented by the so-called Liquidity Decree (DL no. 23 of 8 April 2020).
The financial measures to support Italian enterprises through the banking system enacted by the Law Decree No. 18 of 17 March 2020, in connection with the health emergency caused by the outbreak of the virus COVID-19: this newsletter is aimed at providing an overview of the main financial aids and measures for Italian enterprises to support their liquidity needs and facilitate their access to bank credit.
Please note that the provisions contained in the above mentioned Law Decree, which entered into force on 17 March 2020, might be amended as a result of the legislative process.
The “Cura Italia” Decree - Tax measures relating to the suspension of payments and of tax and social security obligations.
This paper is written in Italian.
