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Results of IBR Women in business 2017: globally, 25% of senior roles is held by women, in Italy, 27%.

The Italian Budget Law for 2017 introduced new provisions to encourage “high net worth individuals” to move to Italy.

The obligation to submit data relevant to imports from San Marino through the “Polivalente” form has been abolished.

Set a clear vision, have a clear sense of the value proposition, have a deep understanding of the dynamics of an Advisory Practice, be able to deliver on the promise, understand the type of people you need.

2017 Budget Law has introduced a new taxation procedure for income deriving from sole proprietorships.

Cybersecurity is a very current topic . No organization, large or small, can be considered immune from the possibility of attacks. It is therefore necessary to become aware of this phenomenon and to put in place the infrastructure and procedures that minimize and, if possible, avoid these risks knowing fully well that any policy must be monitored and updated to adapt to the risks that constantly evolve and change.

Eugenio De Chiara, Manager at Bernoni Grant Thornton, contributed to a volume on corporate welfare, smart businesses and well-being at work authored by Prof. Luca Pesenti of Università Cattolica del Sacro Cuore. In particular, De Chiara wrote a chapter dedicated to tax aspects of corporate welfare, in the light of the amendments introduced by Law n. 208/2015.

Here is an analysis about the treatment of reverse mergers from the perspective of international accounting standards, and offers also some considerations on the regulation of abuse of rights.

Bernoni Grant Thornton keeps on growing in the advisory service line. After the nomination of six new partners, it acquired, through its subsidiary Grant Thornton Financial Advisory Services, Synapse Advisors, a company with a several years’ experience in Business Risk Services.

The norms implementing the professional company in Italy paved the way to new possibilities of doing business for professionals. Some points have already been clarified – from the assigning and performance of a professional engagement, to the participation in a professional company, to the registration in the professional roll – whereas other are still pending.

Art. 4 of Law Decree n. 193/2016, turned into Law n. 225/2016 provides for instructions on tax recovery, which imply new obligations for taxpayers, particularly concerning VAT.

Bernoni Grant Thornton and its subsidiary, Grant Thornton Financial Advisory Services, announce the appointment of six new partners, as of January 1, 2017: Enrico Cimpanelli, Alessandro Leone, Sante Maiolica, Stefano Marchetti, and Renato Sesana for the Advisory services, and Christian Siccardi for the Tax services. In addition to the appointments above, Simonetta La Grutta, head of VAT, was promoted to senior partner, also with effect from January 1, 2017.

The Italian Budget Law for 2017 provides for the introduction, in the national law, of the “VAT Group” scheme as set forth by art. 11 of EU Directive 2006/112. The following VAT taxable persons are entitled to set up a VAT Group: VAT taxable persons established in Italy and VAT taxable persons running a business activity or performing an art or profession provided that they are closely bound to one another by financial, economic and organizational links.

Voluntary disclosure bis: the new procedure for the repatriation of capital held abroad is more complex and the risk that the application will be rejected by the Tax Authorities and that penalties will apply is higher. According to Alessandro Dragonetti, many individuals who did not benefit from the first phase of the voluntary disclosure programme are now “very interested further to the Panama papers scandal”. As to the complexities of the new regulation, “the main issue is the self-assessment procedure to follow in order to obtain the application of the reduced penalty regime”.

The upcoming New Year compels us to look ahead to 2017, with the usual keenness to discover novelties that will impact our profession and plan suitable actions to seize future opportunities. This is therefore the right moment to have a look at the new norms introduced by the Budget Law recently approved by the Italian Parliament.

Important innovations concerning VAT warehouses were introduced by Law Decree n. 193/2016, with the aim of preventing possible frauds in this sector. Essentially, the regulation provides distinct rules for the removal of goods from VAT warehouses depending on how they were placed in the warehouses.