Giulio Tedeschi
26 Jan 2018
2018 has started with some legislative updates concerning all economic operators, entrepreneurs, managers, business officers and consultants, who will have to constantly monitor the content of the updates, define their scope and take growth opportunities. Moreover, the forthcoming elections put pressures that reflects in the law provisions approved in this last phase of the term.
First of all, 2018 Budget Law provided some important tax updates (e.g. “super amortization” and “iper amortization” for new investment, particularly within the development of the “4.0” project, but also new deadlines for the filing of periodic returns). Bernoni Grant Thornton collected these deadlines in the Deadlines timesheet 2018.
I would like also to point out the relevance of duties related to electronic invoicing, which will become mandatory for some operators starting from July 2018 and for everyone starting from 1 January 2019.
Besides the mere fulfilment, the new regulation must be interpreted considering how to seize deriving opportunities, such as the different storage methods and the management of important information that can be processed for tax purposes and also for a more efficient management of collections.
Our Tax, VAT and Advisory specialised teams are ready to help you seizing these opportunities.
The constant rush for digital economy, which involves businesses operating in any industry all over the world, will require carefulness, but will also offer opportunities for growth. The so-called Web Tax will certainly introduce international tax new issues, which will follow the evolution of current regulation (Country by country Reporting, Transfer Pricing issues, branch exemption and similar issues).
In questo contesto l’inizio del 2018 non ci vede impegnati sul solo fronte fiscale: l’avvio dei lavori per la campagna delle assemblee chiamate ad approvare i bilanci 2017 richiederà un’attenta riflessione sulla portata applicativa delle innovazioni introdotte dai nuovi principi contabili OIC, dopo la fase di avvio che ha caratterizzato i bilanci dello scorso anno, tenuto anche conto delle recentissime variazioni apportate con gli emendamenti OIC.
The reforms of insolvency procedure and crisis management areas - aimed at favouring the going concern - are also awaited. It includes some updates such as the introduction of the “judicial winding-up” - that will replace the current “bankruptcy” concept -, the crisis management in continuity with instruments for debt restructuring agreements, the total review of the credit reimbursement priorities, and the review of the rules for the appointment of Boards of Statutory Auditors and of external auditors in S.r.l. companies, with reduced size limits.
As regards international accounting standards, 2018 will see the coming into force of new concerning the timely evaluation of expected credit loss; this does not concern only banks and financial brokers, but anyone having relationships with them.
The recent provision of the Bank of Italy on equity crowdfunding, extended to all SMEs, leads to many new opportunities in in an industry where changes connected to technology are step changes and is very fast. The resort to new financing instruments as equity crowdfunding represents further growth opportunities, together with traditional credit instruments.
The abovementioned and many other issues will be discussed during meetings with our Clients and with businesses, and also during specific events that will be organized on specific subjects.