21.03.2022

Tick tock, tick tock... time to approve Italian Annual Competition Law 2021

We get back onto a topic which is now widely discussed and which we already had the chance to address in our previous issues[1]: Italian Annual Competition Law. Italian Annual Competition Law for the…

Read more

17.03.2022

Reserved AIFs: a regulatory update

Ministerial Decree No. 19 of 13 January 2022, which introduces certain amendments to Ministerial Decree No. 30 of 5 March 2015 in order to expand the categories of retail investors who may invest in…

Read more

10.03.2022

Ukraine Crisis: how “SWIFT sanctions” impact commercial agreements governed by Italian law

[IMPORTANT NOTE: this document is updated as at 10 March 2022; since the current conflict - which began with the invasion of Ukrainian territory by the Russian army between 23 and 24 February 2022 - and…

Read more

07.03.2022

Ukraine Crisis: Sanctions

This memorandum is not intended to be exhaustive and has the sole purpose of providing a preliminary overview of the sanctions imposed, and in the process of being imposed, against Russia, with a…

Read more

04.03.2022

Post-pandemic Smart Working; the guidelines of the Protocol of 7 December 2021

On 7 December 2021, on the initiative of the Ministry of Labour and Social Policies, the major Employers’ Associations and Unions signed the National Protocol on Agile Work. The purpose of the document…

Read more

15.02.2022

On-line quoting and comparison platforms: OAM to soon issue clarification

Introduction Last 12 January the Italian authority supervising credit brokers and financial agents (“OAM” – “Organismo Agenti e Mediatori”) launched a public consultation on a draft Interpretative…

Read more

24.01.2022

Salary-backed loans ("cessione del quinto") in the latest instructions from the Bank of Italy

Introduction Salary-backed loans or pension-backed loans ("CQS/CQP") [1] – originally regulated by Presidential Decree No. 180 of 5 January 1950 – have been, over time, the subject-matter of numerous…

Read more

18.01.2022

Virtual meetings of corporate bodies (also after the Covid emergency): maxim No. 200/2021 of the Board of Notaries of Milan

INTRODUCTION In order to deal with the state of emergency related to the spread of the COVID-19 virus (extended, as of today, until 31 March 2022), Italian lawmakers have adopted a series of rules…

Read more

14.01.2022

The institutional knot between shell companies and interpellation between preclusions and "disapplication" opportunities

Abstract The orders of the Supreme Court nos. 24060, 24667 and 26219 of 2021 offer the opportunity to retrace two fundamental junctures in the evolution of the tax rules on shell companies: the first,…

Read more

09.12.2021

Listing Act: EU Commission consultation to achieve simplification for SMEs

Preamble Last 19 November the European Commission launched a public consultation [1] in order to assess possible changes to the reference regulatory framework for companies listed on regulated…

Read more

23.11.2021

Progressive transformations penalise the super Aid for Economic Growth

The case is that of a progressive transformation from partnership to corporation (but the following considerations are equally valid in the opposite case), resulting in the application of a different tax…

Read more

17.11.2021

Conflicts in international intra-group economic relations. Transfer pricing aspects

The Milan Provincial Tax Commission, in its decisions No. 1138/2/2020 of 17 January 2020 and No. 1207/2/21 of 18 December 2020, ruled inter alia on the relevance of intra-group discounts in transfer…

Read more