29/04/2017
TAX NEWS – APRIL 2017
SUBJECT: Decree-Law No 50/2017, which contains "Urgent Financial Provisions year 2017”
This is to inform our Dear customers and our readers, that the Official Gazette of 24 April published the Decree-Law No 50/2017, which contains "Urgent Financial Provisions, Initiatives for Territorial Authorities, Further Actions for Areas Affected by Seismic Events and Development Measures". Numerous tax provisions. (Source Nuovo Fisco Oggi).
Here is a summary of the main novelties that came into force on April 24, 2017.
1) VAT deduction (Article 2)- (Amendment to Articles 19, paragraph 1 and Article 25, paragraph 1, Dpr 633/1972)
It changes the term of declines for the VAT deduction of goods and services purchased or imported.
According to the prevailing discipline, the right to deduct could be exercised at the latest by the declaration relating to the second year following that in which it had arisen.
As a result of the modifications under consideration, the term is reduced, stating that the deduction may be made, at the latest, with the statement of the year in which the related right arises.
Changes also at the end of the registration of purchases; In the light of the new provisions, purchase invoices must be noted in the relevant register before the periodic payment in which the right to deduct the relevant tax is exercised and, in any event, within the time limit for submitting the annual declaration for the year Receipt of the invoice and with reference to the same year.
2) Contrary to undue compensation (Article 3)
It passes from 15,000 to 5,000 euros per annum the limit above which receivables related to income taxes and related additions, withholding tax, substitute taxes and Irap may only be used for compensation only upon application of the visa of compliance (Or, alternatively, the subscription by the person exercising the accounting control) on the statement from which they emerge.
In addition, it is expected that, in the case of compensation made in the absence of a compliance or subscription visa, ie with a visa or subscription by unauthorized persons, the financial administration shall recover the amount of undue amounts owed, Interests and penalties (Amendment Article 1, paragraph 574, Law 147/2013).
The provisions also apply to VAT credits (Amendment Article 10, paragraph 1, letter a, item 78/2009).
For gamblers who intend to make credit for VAT credits, the obligation to use the Revenue Agency's telematic services, irrespective of the amount of the credit itself (previously the obligation was only for amounts of more than 5 thousand Euro per year).
In addition, the obligation is extended to compensation for receivables relating to income taxes and surcharges, withholding taxes, substitute taxes, surcharges and credits to be indicated in the Ru statement of income tax (Amendment Article 37 , Para. 49-bis, Dl 223/2006).
Lastly, the possibility of making use of the compensation for the payment of the amounts owed by the co-recovery of the amounts recovered from the unlawfully used tax receipts (Article 1, paragraph 422, Law 311/2004) is excluded.
3) Ace (Article 7) - (Amendment to Article 1, paragraphs 2, 5 and 6-bis, Dl 201/2011)
Modalities for determining the basis for calculating notional performance for Ace (economic growth aid) are altered. In fact, it is expected that the notional yield of the new equity will be assessed with respect to the relative increase in the increase compared to the previous year's closing (and no more than the financial year at 31 December 2010).
The new rule applies from the tax period following the one in progress at 31 December 2016.
In addition, it is anticipated that for the calculation of the Ires 2017 prepayment, what tax of the previous period should be considered as the one that would have been determined by applying the new rules.
Lastly, there are novelties for the redefinition of the Ace base also for individual companies and companies (Article 1, paragraph 552, law 232/2016). For these taxpayers, in fact:
For 2016, it also notes, as an increase in equity, the difference between shareholders 'equity as of December 31, 2015 and shareholders' equity at 31 December 2010
From 2017 until 2019, it also notes, as an increase in equity, the difference between the shareholders 'equity at December 31, 2015 and the shareholders' equity at 31 December of the fifth tax period preceding that for which 'Ace.
4) Transfer pricing (Article 59)
Also review the transfer pricing discipline.
First, it is foreseeable that components of income arising from transactions with non-resident companies in Italy that directly or indirectly control the enterprise, are controlled or controlled by the same company controlling the enterprise, are determined by reference to the conditions and Prices that would have been agreed between independent parties operating in conditions of free competition and in comparable circumstances, resulting in an increase in income. The same rule applies even if it results in a decrease in income (new paragraph 7, Article 110, Tuir).
Reduction in income tax ex Article 110, paragraph 7, second period, may be recognized:
In ex*****on of the agreements concluded with the competent authorities of the foreign States following the friendly procedures provided for in the international conventions on double taxation on income or by Convention no. 90/436 / EC of 23 July 1990
At the conclusion of the checks carried out under international cooperation activities whose results are shared by the participating States
Following a request from the taxpayer, in the face of a definitive increase in correction and complying with the principle of free competition by a State with which an agreement is in place to avoid double taxation on income that allows for an adequate exchange of information . In any case, the taxpayer's right to request, where the conditions are met, the activation of the friendly procedures (the terms and conditions for the submission of the instance will be determined by a subsequent decision of the Director of the Agency Entries).
5) Split payment (Article 1) - (Amendment to Article 17-ter, Dpr 633/1972)
The scope of the decomposition mechanism is extended.
In fact, it is expected that split payment will work:
For the supply of goods and services rendered to the general public as defined by public finance legislation (the existing rules, on the other hand, limited the disbursement of payments only to transactions carried out with public entities specifically Indicated by the standard).
In addition, split payment is extended to transactions made with:
- Directly controlled by the Presidency of the Council of Ministers and ministries
- Companies directly controlled by regions, provinces, metropolitan cities, municipalities and communal unions
- Companies, in turn, controlled, directly or indirectly, by the companies mentioned in the two preceding paragraphs
Listed companies listed in the Ftse Mib index of the Italian Stock Exchange.
The rule is that the split payment does not apply to remuneration for the provision of services subject to withholding tax as income tax (repeal paragraph 2, Article 17-ter, Dpr 633/1972).
The new provisions apply to transactions for which an invoice is issued from 1 July 2017.
A subsequent decree of the MEF will lay down the provisions for the implementation of the new discipline.
6) Short-term tax arrangements (Article 4) - Introduced an ad hoc discipline for short leases.
First of all, it is established that for the purposes of the new regulation, short leases are "leases of residential real estate for a term of not more than 30 days, including those involving the provision of linen and Cleaning of premises, made by natural persons, outside the scope of business activities, either directly or through real estate brokerage firms, also through the management of online portals. "
Income arising from short lease contracts stipulated on 1 June 2017 applies to the rules on the coupon, with a 21% rate in the case of an option.
The same provisions also apply to the gross payments arising from the subcontracting contracts and the contractual arrangements made by the contractor for the use of the property in favor of third parties, made under the same conditions as for short leases.
For those who engage in real estate brokerage, also through the management of online portals, by contacting people in search of a property with people who have real estate units to lease, there is an obligation to send to the Revenue Agency The data on the contracts concluded with their intervention. In case of omission, incomplete or unpublished communication an administrative sanction of 250 to 2 thousand euros is envisaged; A penalty reduced to half if the transmission is made within 15 days after the expiration date, that is, if the correct transmission of the data is made within the same period.
In addition, the same subjects, if they enclose the fees or fees relating to the leases in question, operate as tax substitutes a 21% deduction on the amount of the fees and charges at the time of the loan and provide To its payment and to its certification. In the event that the option for the coupon is not exercised, the withholding is considered as a down payment.
The implementing provisions of the new short-term tax regime will be adopted with a subsequent decision of the Director of the Revenue Agency.
7) Facilitation of tax disputes (Article 11)
It is foreseen the possibility of easily defining tax disputes.
In particular, the disputes attributed to the tax jurisdiction, in which the paying agency is party to each state and grade of the judgment (including the one in cassation and also following a referral) may be defined by payment of all the amounts As required by the contested act (which have been contested at first instance) and for late-stage interest (calculated until the 60th day following the notification of the act) with the exclusion of penalties and default interest.
If the pending dispute only concerns default interest or non-tax-related penalties, 40% of the contingency amounts are due to the definition.
However, in the case of a dispute relating only to the penalties relating to the taxes to which it refers, there is no amount due for the definition if the tax relationship has also been defined in ways other than the simplified definition.
Disputes can be defined in relation to which the plaintiff's first-instance legal proceedings have taken place before 31 December 2016 and for which, at the date of the submission of the application for a determination, the process did not come to an end.
The disputes cannot be defined (even only in part): traditional EU own resources, the VAT charged on imports and the amounts owed for recovery of State aid.
For the payment of amounts due as a result of the simplified definition, the same rules apply to the payment of the sums owed as a result of accountability by adherence. However, the maximum number of rates is reduced to three. However, payment is not allowed if the amount due does not exceed € 2,000.
These are the deadlines for payment of the amounts owed:
30 September 2017 (in the case of payment in one solution)
30 September 2017 (first installment payment, 40% of the total sum due)
30 November 2017 (second installment payment, additional 40%)
June 30, 2018 (third and last payment, 20% remaining).
Who, by 21 April 2017, has expressed a willingness to avail itself of the "ruination" of roles, may benefit from the simplified definition of tax disputes only in conjunction with the decommissioning itself (a parallelism is established between the two procedures, the conclusion of the 'One influencing the good outcome of the second).
The definition is perfected by paying the amounts due or the first installment.
If there are no amounts to be paid, the definition is perfected with the submission of the application.
For the facilitated definition it is necessary to ask the person who has proposed the introductory document of the trial or who has taken over or is legitimated. The application (stamp duty) must be submitted by 30 September 2017.
Amounts owed shall be disallowed by the amounts already paid due to the provisions in force concerning the collection of judgment and those due to rogue clearance. The sums already paid, though exceeding the amount due for the definition, are not returned.
Implementing provisions will be established by one or more measures of the Director of the Revenue Agency.
8) Further extension of suspension and suspension of suspension charges (Article 43)
First, the deadline for the period for which tax substitutes, at the request of those residing in the municipalities affected by the earthquake, from 30 November to 31 December 2017, should not be subject to withholding tax at source. (Amendment Article 48, paragraph 1-bis, Dl 189/2016).
For subjects other than income holders and self-employed workers as well as agricultural business operators, the deadlines for payments and tax obligations, including those resulting from payment cards issued by collection agents, and acts Of ex*****on, falling due in the period between 24 August 2016 and 31 December 2017 (the final deadline was 30 November 2017 - Article 48, paragraph 10, Dl 189/2016).
Fiscal charges, other than payments, not made due to the suspensions provided for by law, must be made by February 2018 (deadline December 2017 - Amendment Article 48, paragraph 12, Dl 189/2016).
It is envisaged that, for subjects other than income holders and self-employed income, as well as by agricultural business operators, the resumption of collection of taxes not paid due to suspensions will have to take place by 16 February 2018. The same subjects may To pay the sums suspended, without penalties and interest, by a rate of up to a maximum of 9 monthly installments of equal sum, starting from February 16, 2018 (Amendment Article 48, paragraph 11, Dl 189/2016).
9) Extension measure enhanced tax credit for investments (Article 44)
It is extended to December 31, 2019 (deadline before 31 December 2018) the term for which, in the Municipalities of Lazio, Umbria, Marche and Abruzzo affected by the seismic events of 24 August 2016, the investment tax credit (ex article 1, paragraph 98 et seq., Law 208/2015) is attributed 25% for large enterprises, 35% for medium-sized enterprises and 45% for small businesses (amendment to Article 18-quater, paragraph 1, Dl 8/2017).
10) Patent Box (Article 56) - (Amendment to Article 1, paragraphs 39, 40 and 42-ter, Law 190/2014)
Also new to the taxation of taxation of income from intangible assets.
First of all, the scope of application of the patent box excludes income from the use of trademarks.
The facilitated scheme, on the other hand, is also extended to income derived from the joint use of intangible assets, linked to them by complementary constraints, aimed at the production of a product or a family of products or a process or a group of process.
The new provisions apply:
In respect of subjects coinciding with the calendar year, for the tax periods for which the options are exercised after 31 December 2016
In respect of non-coinciding subjects with the calendar year following the third tax period following the one in progress at December 31, 2014, for which the options are exercised after December 31, 2016.
Compared to the options exercised for the first two tax periods subsequent to those in effect at 31 December 2014, the applicable provisions apply.
Our owner Rag. Mario Stefano Ogna remains at your disposal for any clarification.
Best Regards
Rag. Mario Stefano Ogna
