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The Council of the European Union accorded Italy an extension to continue applying – up to 31 December 2019 – a special derogation from the provision of Directive 2006/112/CE, concerning the limitations to deduction of VAT borne on the purchase of some kinds of means of transport and on the related expenses. The extension of such limits is aimed at significantly reducing the administrative burden and to prevent tax evasion.

New research from Grant Thornton’s International Business Report – a quarterly global survey of 2,600 business executives in 37 economies – reveals a decrease in the optimism of Italian companies for the next 12 months. Italian businesses expect a decrease in export and employment and an upturn of the domestic demand. Optimism in Italy fell 6 percentage points with respect to the previous quarter, but less than in UK, Spain (both down 19pp) and France (-18pp).

The interest in Italian medium enterprises is increasing, thanks to a renewed appeal of Italy for international investors and to the positive drive of EU regulations

Gabriele Felici intervenes on 18 November 2016 in Rome in the 4th national conference on "Arbitration and mediation: effective dispute resolutions and a professional opportunity"

30.000 Euro is the new extended limit up to which the application for refund is allowed without the need of the stamp of approval by an accountant or signature by the statutory auditors as regards those subjects indicated in art. 03-bis, para. 3 of Presidential Decree 633/72, nor of the granting of a financial guarantee by those subjects indicated in art. 38-bis, para. 4 of Presidential Decree 633/72.

The use of vouchers is constantly increasing on the market, as it makes it easier for consumers to access goods without using cash. With Directive 2016/1065 dated 27 June 2016 the Council of the EU recognised the need to introduce specific norms on the VAT treatment of vouchers throughout the EU and set forth new provisions aimed at regulating their circulation and redemption. The new common norms, which must be implemented in the domestic legislation, do not differ significantly from the standpoint of the Italian Tax Authorities over the years.

The budget bill for 2017, within the “Industry 4.0” strategy, will renew those provisions allowing “super-amortization”, and introduce “hyper-amortisation” for some specific capital goods, in order to incentivize the technological update of Italian businesses, their competition on domestic and international market and, more generally, economic recovery.

Competition for students is increasing, as traditional countries targeted for students grow their domestic capability and US HEIs ramp up their recruitment drive. Understanding the underlying factors driving students’ choices will help HEIs align their recruitment activities and attract the top students.

Giulio Tedeschi, Partner at Bernoni Grant Thornton and Contract Professor of Best practice methodology with the Department of Economics at Università Cattolica in Milan, collaborated in drafting the volume “Il bilancio di esercizio: profili aziendali, giuridici e principi contabili” (Financial Statements: corporate and legal issues and accounting principles), by Prof. Angelo Palma, published by Giuffrè. In particular, he authored chapter XII: “from operating income to taxable income”.

Gianni Bitetti will participate as speaker and coordinator at a conference on Transfer Pricing and the preparation of domestic TP documentation organised by the Milan Roll of Chartered Accountants

Yoroi, a leading Italian cyber security services provider, is glad to announce to have entered into a commercial partnership agreement with Grant Thornton Financial Advisory Services, a company operating in the advisory services industry.

On November 4 ADM International Service Srl, our company dedicated to outsourcing, changed its name to Grant Thornton Operations Srl

The article analyses a reverse merger operation from an accounting, corporate and tax perspective. The analysis will also consider the implications related to the regulation on tax consolidation and to circular letter no. 6/E dated 30 March 2016 on leveraged buyout.

Changes introduced with the provision on the regularization of tax bills

When reorganizing groups, the management is called to ponder both organizational and business reasons for restructuring without forgetting tax implications whose impact might radically change the operation profitability.

The International Business Report shows that in Italy, 72% of businesses say they have not changed their businesses approach to taxation, while only 14% of businesses have taken measures in line with the OECD programme.