The ongoing digitalization of the economy has undoubtedly allowed individuals to carry out work activities from their home without being physically present in an office, and in some cases to live in Countries where their employer has not a formal presence.
The Organization for Economic Cooperation and Development (hereinafter "OECD") released on January 20th, 2022 the new Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations updating the previous version dated July 2017.
The negotiated settlement of business crisis provided for by the Italian Decree Law 118/2021 introduces into our legal system a new instrument that differs from the range of bankruptcy procedures because it is usually applied during the crisis at a time when the turnaround and continuation of the business activity, directly or indirectly, are still possible.
Content of the new provision
The Ministry of Tourism, with the provision 23/12/2021 has clarified several aspect of the benefits to companies in tourism industry, about eligible costs and timing of the procedure.
All companies in tourism industry and in particular:
This is part of the current unstoppable process of progressive internationalisation of the Italian football club ownership.
Besides Roma, Inter, Milan, Fiorentina and many other teams within the minor leagues, Serie A welcomes a new foreign investor.
Further to President Giuseppe Conte and Minister of Economy and Finance Roberto Gualtieri proposal, the Council of Ministers has approved a Decree Law introducing urgent measures regarding access to credit and deferral of obligations for businesses, as well as special powers in legal and strategically important sectors.
The COVID-19 crisis is causing governments around the world to rapidly respond in order to provide economic relief to businesses and individuals. On a daily basis, global policy changes are being proposed and enacted related to extending filing deadlines and providing tax cuts and incentives.
Law decree 18/2020, in order to cope with the crisis that Italian companies are facing due to the spread of the COVID-19, has provided in art. 56 for financial support measures in favour of micro, small and medium-sized enterprises.
It has been published in the Official Gazette (OG General Series n.76 of 22-03-2020) the new decree of the President of the Council of Ministers (DPCM) which aims to tighten the restrictions introduced with previous legislative and regulatory interventions by providing for new measures, applicable to the whole national territory, regarding the containment and manag
The terms relating to the payments scheduled for March 16 will be deferred with a provision in the decree law to be adopted by the Council of Ministers, relating to measures to contain the effects of the Covid-19 epidemic.
With the Decision of the Commissioner of Italian Revenue Agency no° 658445/2019 published on 30 July 2019 (“the Act”), the changes introduced by Article 4 of the "Growth" Decree (Decree-Law No 34/2019) are implemented for those who decide to proceed directly with the determination of the eligible income, in place of the ruling procedure.
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FOCUS ON TAX AND ACCOUNTING TOPICS
Does the absence of any indication of a tax relief in the return preclude its use?
Italian Transfer Pricing Guidelines