For purposes of concluding a process started with the Stability Law 2015 (Law 190/2014), upon enacting the Decree no. 158/2015, (the “Decree”), aimed to reduce the tax litigation and facilitate the exchange of information, Italian Government has decided to institute a thorough review of the active repentance (the “Active Review”). by expanding its terms and conditions (the “New Regime”), as follows.

The Italian Taxpayer may now use the Active Review to settle the violations committed in the area of taxes administered by the Income Revenue Authority (such as Income Tax, V.A.T.- Value Added Tax, IRAP, the Tax on Entertainment and the Stamp Duty). Conditions of eligibility for use of the Active Review are; (i) spontaneous access; (ii) the absence of a notified judicial act from the Italian Revenue Authority in relation to a liquidation or a found, for tax irregularities with the aim to be healed.

A spontaneous payment of the amount due, included default interest and penalties, is required to heal the tax irregularities. In particular, the sanction has been reviewed, by lowering the amount, in case of timeliness from the Italian tax payer of the violation claim filing, the Italian Taxpayer intends to settle. The Decree is effective as of 1 January 2017; nonetheless, the Stability Law for 2015 (Law 190/2014), anticipated the entry into force of the New Regime to January 1, 2016.

Legal sources:

– Law no. 190 of December 2014, 23;

– Legislative Decree n. 158 of September 2015, 24.

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