Valente Associati GEB Partners "Best Criminal Tax Team in Italy"

Valente Associati GEB Partners is pleased to inform you that the Firm’s Criminal Tax Team, headed by partner Ivo Caraccioli, was distinguished as

Best Criminal Tax Team in Italy

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at the Le Fonti Awards & CEO Summit which was held in Milan on November 13.

“For the proven experience and solid reputation in the tax consultancy area as well as for the support to Corporate Boards and multinational groups.

Especially noteworthy are Prof. Ivo Caraccioli’s technical competencies and personal expertise, also provided throughout the entire litigation procedure, including the pre- and post- litigation phases, during which he continues leading our Firm’s Criminal Tax Team. His commendable devotion, commitment and involvement at policy level in his role as President of the Centro di Diritto Penale Tributario is also duly and fully acknowledged by peers, institutions and other relevant Parties within his specialization area.”

This acknowledgement is an incentive to continue excelling on our work, to our clients’ best interests, with dedication and passion.

CbCR Obligations for Italian Entity Members of US Groups

Published in: TPWeek

An agreement for the automatic exchange of country-by-country reports (CbCR) between Italy and the US (Agreement) came into effect on September 27 2017, as announced by the Italian minister for economy and finance.
The above agreement derives its legal basis from Art. 26 of the Convention for the Avoidance of Double Taxation in effect between the US and Italy.

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And the Blame Goes to... EU Tax Intermediaries

Published in: IAFEI 37th issue

In June 2017, the European Commission released the fiercely debated proposal for a directive to introduce mandatory disclosure rules in the area of taxation (Proposal) in the European Union (EU).
The proposed legislation is highly relevant to EU tax professionals but also to enterprises with activities in the EU, implementing tax planning structures that could potentially be regarded aggressive. Specifically, such enterprises may under certain circumstances have own obligation to report information to national tax authorities. In any case, they must be aware that potential tax planning structures they might use shall become reportable and subject to automatic exchange of information among Member States, once the Directive is implemented.

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Capturing Dematerialized Money through Anti-Money Laundering Provisions

Published in: Kluwer International Tax Blog

The Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice and Home Affairs of the European Parliament recently finalized the amendments to the existing Anti-Money Laundering Directive (AMLD). This decision was based on the related proposal of the European Commission, submitted in July 2016.EU initiatives in this direction – including adoption of AMLD in 2015 and two Regulations in 2015 and 2016 to enhance transparency of fund transfers and identify third countries with significant deficiencies in anti-money-laundering legislation – are surely not a novelty.  Most importantly, the EU is not alone in this struggle; its actions are in line with corresponding activities of the Financial Action Task Force and the OECD.

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Lawyer Monthly - Women In Law Awards Edition 2017

The Lawyer Monthly Women in Law Awards celebrate and highlight the achievements of women in the legal profession across the globe.

As a result of several months of research and preparation, the Lawyer Monthly Women in Law Awards reward female legal experts that have overcome challenges and influenced the wider legal profession in their jurisdiction. The winners include all areas of the legal profession, from high achieving junior associates, to long serving barristers.

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Transfer Pricing Audits: Suitability of Transfer Pricing Documentation

Published in: Intertax- Issue 45.6&7

Article 26 of Legislative Decree No. 78/2010 introduced in Italy a rewarding regime related to the non-application of penalties involving intercompany transfer pricing adjustments in connection with taxpayer’s submission to the Tax Authorities of ‘suitable’ documentation to support taxpayer’s transfer pricing policies. Assessment on the ‘suitability’ of such documentation by Tax Inspectors has given rise to a variety of critical issues in the last few years.

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Cooperative Compliance: The Italian Framework

Published in: TPWeek

On May 26 2017 the Italian regime on cooperative compliance was further clarified by the Italian Revenue Agency (IRA or tax administration) by virtue of a new regulation (provvedimento). Antonella Della Rovere and Federico Vincenti of Valente Associati GEB Partners explain.

The Italian framework of cooperative compliance has been built since 2014, when it was envisaged by law as part of a set of measures to establish a fairer, more transparent and growth-oriented national tax system.

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Valente Associati GEB Partners – Studio Legale dell’Anno Fiscalità Internazionale (Law Firm of the Year: International Tax)

For the constant and considerable increase of our international client base, significant R&D investments and high-level academic involvement and contributions.
An innovative spirit and capacity to introduce ground-breaking concepts and approaches complement the range of already integrated services to ensure all-round excellence.

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Fiscal State Aid: What Conclusions May Be Drawn From The EU’s Reservations

Tax evasion has remained in the top of the “heatedly-debated-issues” charts for several years and is not expected to “drop down” soon. Instead, the intensity in the fight against it seems to be increasing on every occasion (Lux Leaks, Panama Papers etc.). In this “war”, European Commission’s (EU) decisions on fiscal state aid are beyond doubt the most controversial “weapon”.

In essence, such decisions invalidate tax rulings issued by Member States since they allow multinationals (MNEs) to pay less tax than standalone companies in comparable situations under Member States’ tax laws in violation of state aid rules.

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Valente Associati GEB Partners "Italy Transfer Pricing Firm of the Year" by International Tax Review

Dear All,

We are pleased to inform you that Valente Associati GEB Partners has been awarded

Italy Transfer Pricing Firm of the Year

by International Tax Review in ITR European Tax Awards 2017 held in London on May 18th.

This award recognizes our unique and innovative performances in one of the most challenging areas today - Transfer Pricing.

We commit to continue devoting all our passion and efforts to our Clients, delivering the most extraordinary and efficient solutions and proactively tailoring our performance to their needs.

For the full list of winners, cf. (link)

Italy: Changes to the TP Framework

On April 24 2017, a new law decree (N. 50/2017) introduced changes to the Italian transfer pricing framework. Antonella Della Rovere and Federico Vincenti from Valente Associati GEB Partners look at the changes.

In a nutshell, the Italian provision on transfer pricing (art. 110 para. 7 of the Italian Income Tax Code) was amended to clearly and definitively encompass the principle of open market conditions.

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Latest Developments on Country-by-Country Reporting

Published in: IAFEI Quarterly 36th Issue, April 2017

The Decree of the Italian Ministry of Economy and Finance for the implementation of Country-by-Country reporting (hereinafter, “CbCR”) in Italy was issued on 23 February 2017.
The latter provided for reporting obligations involving enterprises that meet certain criteria, defining the deadline and the related model to be complied with.

The definition of CbCR terms and standards was expected after the issuance of Law No.208 issued on December 30, 2015 set forth that operational details of the mentioned reporting mechanism had to be determined by the Ministry of Economy and Finance.

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