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19.01.22
Bankruptcy does not interrupt the Cassation proceedings
In the event of bankruptcy, the trial usually stops automatically and procedural legitimacy is transferred to the liquidator pursuant to the bankruptcy law (art. 43, R.d. 262/42). The procedural effects of bankruptcy are different, however, depending on the type of proceedings undertaken. In particular, while in the proceedings on the merits the judgement is interrupted […]
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12.11.21
Hearings on paper at the Cassation Court until 31 december 2021
The freeze on public hearings until 31 December 2021 affects not only the tax proceedings before the Tax Commissions, but also the proceedings in the Supreme Court. Since 2016, however, a public hearing in the Supreme Court of Cassation has only been provided for in special cases, for example when the discussion is rendered opportune […]
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21.10.21
Costs incurred by the fictitious intermediary are deductible
In the event of a tax assessment for fictitious interposition, the costs incurred by the interposed person must also be charged to the taxpayer, provided they were actually incurred. If the Agency does not limit itself to establishing the interposition, but increases the declared income, the interposing party may prove the existence of any additional […]
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15.10.21
Contributions in onerous trusts still at risk of taxation
With the draft circular published on 11.8.2021, the Revenue Agency took note of the most recent orientation of the Supreme Court, according to which the contribution of the settlor in the trust does not constitute a taxable transfer, as long as there is no actual increase in the beneficiary’s assets. In this view, for such […]
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13.10.21
Uncertainties still surround the tax treatment of trusts on a supranational basis
The tax regime of trusts in the international context is still characterised by aspects of uncertainty, also following the draft circular published for consultation by the Revenue Agency. following is taxed directly on the resident beneficiary – as capital income: Foreign or resident transparent trusts Opaque foreign trusts Paradise trusts However, it is not clear, […]
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24.09.21
Purchase of treasury shares not tax-equivalent to shareholder’s withdrawal
The purchase of treasury shares is not tax-equivalent to shareholder withdrawal. By analysing a buy back transaction involving the shareholder of a Holding Company, the competent Italian Tax Authority (so called “Direzione Regionale del Veneto”) stated that the purchase of treasury shares by the Holding Company entails the realisation of capital gain, and not of […]
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04.08.21
Electronic filings with the Supreme Court until December 31, 2021
The Government has extended the state of emergency due to the spread of the coronavirus until December 31, 2021. As a result, the provisions relating to the procedures for conducting hearings in tax commissions and the electronic filing of documents with the Supreme Court have also been extended until December 31, 2021. Dario Augello and […]
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03.07.21
VAT neutrality to be preserved in tax assessment
In case of assessment for tax evasion, States must always preserve VAT neutrality. This has been confirmed by the Court of Justice of the European Union in its judgment C-521/19 of 1 July 2021, analysing the case of a self-employed worker resident in Spain who received not-declared payments off the books. Dario Augello and Gabriella […]
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03.05.21
Electronic filings with the Italian Supreme Court of Cassation until July 31, 2021
The Ministerial Decree of 27January 2021 allowed the filing of acts and documents electronically also at the Italian Supreme Court of Cassation, from 31 March 2021 and provisionally until 31 July 2021. Electronic filing, which is still optional and not mandatory, has full legal value and exempts the parties from the simultaneous filing of the […]
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02.02.21
New OECD guidelines on double taxation treaties
On 21 January 2021, the OECD published an update of its 3 April 2020 Guidelines on the Interpretation of Double Taxation Treaties, also urging states to regulate the effects of the pandemic on the tax residence of entities and individuals in terms of domestic law. Dario Augello analyzed the essential features of the document for […]
