Tax Pills

Italian Revenue Agency awarded as the best eco-friendly Administration
In occasion of the Italian edition of Buy Green International Forum, the Italian Revenue Agency has been awarded, for the third year in a row, for the best tender regarding environmental sustainability.
In fact, to get in the Revenue Agency’s offices, the suppliers must provide energy saving drinks and food dispensers and microfiltration water filters without any additional expenses for the administration to reduce the use of plastic bottles. In particular, food and drinks dispensers in every office contain organic and fair-trade snacks; all the coffee cups and stirrers are bio-degradable and there are recycling bins in order to reduce pollution.
Last 7th October the Italian Revenue Agency has been awarded in Cremona, in occasion of Buy Green Forum. An event dedicated to public administrations that pay attention to eco-friendly purchases and to the promotion of the GPP (Green public procurement), with the aim to reduce the environmental impact of their own activities and safeguard the citizens’ health.

What is GPP
The GPP is "a process whereby public authorities seek to procure goods, services and works with a reduced environmental impact throughout their life cycle when compared to goods, services and works with the same primary function that would otherwise be procured.”
It is a voluntary instrument that has been introduced in 2008 by European Union with the Communication “Public procurement for a better environment”. The idea is that public authorities are major consumers in Europe (they spend approximately 2 trillion Euros every year, 17% of the EU’s gross domestic product). Consequently, they can make an important contribution to sustainable consumption and production by using their purchasing power to choose goods and services with lower impacts on the environment. (va.ib.)
Italy has approved the new financial package
The Italian Government has approved the financial package necessary to face the current economic crisis  containing new fiscal measures for strengthen the fight against tax evasion. Other tax measures regard the increase in the value-added tax rate (Vat) of 1 percent, only for goods and services that were affected by 20 percent rate, and the introduction of a "solidarity" tax on incomes of 3 percent applied on all personal incomes over 300.000 Euros. Moreover, it has been approved the rise of tax rate on financial income from 12.5 percent to 20 percent and the increase, from 6.5 percent to 10.5 percent, of supplementary tax on energy companies with revenue over 10 million of Euros.

New measures against tax evasion

Jail for larger tax dodgers - Stricter sentences for taxpayers, for example in case of false tax returns or submitting false tax documents. Moreover, tax dodgers will be punished with jail if they will evade over 3 million of Euros and in case the evaded amount is above 30 percent of the volume of business.

Increase of the corporate tax rate on shell companies - Shell companies - usually established to hold assets, such as yachts and luxury cars, to take advantage of company taxation instead of personal one - should pay more; in fact the corporate tax rate applicable on minimum income of shell companies will rise from 27,5 percent to 38 percent. It will not be possible to avoid this higher taxation neither including the shell company in a tax consolidation nor applying the regime of fiscal transparency.

Another aspect of this new norm regards in particular the use of companies’ goods by partners and/or entrepreneur’s relatives. In fact companies cannot deduct related costs if the annual payment for the use of those goods (for example rental rates) is lower than market prices.

No cash, lower penalties - Business operators with a business volume until 5 million of Euros, that chose to pay suppliers and to be paid by credit card and/or other traceable means of payments, will have reduced by half the penalties in case of missed tax receipts and missed or false tax returns and vat documents.

Bank accounts under control - The Italian Revenue Agency could redact specific lists of taxpayers based on bank accounts.
Moreover town councils will be more involved in the fight against tax evasion thanks to more powers and incentives (they will earn 100 percent of the evaded amount discovered and they can publish online taxpayers revenue details). (va.ib.
FiscoOggi è una pubblicazione dell'Agenzia delle Entrate - Ufficio Comunicazione
Testata registrata al Tribunale di Roma il 19.9.2001 con n. 405/2001
Direttore responsabile Claudio Borgnino