Generali Italy has been admitted to the collaborative compliance regime (or Cooperative compliance), established by Legislative Decree no. 128/2015, which allows a constant and preventive dialogue with the Revenue Agency. Admission to the scheme - which starts from the 2021 tax period - takes place after the Revenue Agency has verified the full adequacy of the Tax Control Framework adopted by the insurance company for the detection, measurement, management and control of the tax risk.
In particular, the regime containing "Provisions on legal certainty in the relationship between the tax authorities and the taxpayer", requires companies to:
- The implementation of an effective system of preventive self-assessment of tax risk (through the construction and maintenance of the so-called Tax Control Framework: see below);
- Compliance with disclosure obligations and promotion of a corporate mission based on compliance with tax legislation;
In exchange for simplifications, reduction of sanctions and, more generally, a "privileged" relationship with the financial administration.
Participation in the scheme provides for constant and transparent contacts between the Company and the Revenue Agency. And it is precisely with these intentions in mind that a Tax Risk Management unit was set up in the Company.
The development of a tax risk management model, the adoption of a tax strategy, the establishment of a Tax Risk Management unit and admission to the Cooperative compliance regime will make it possible to eliminate tax risk, understood as the risk of operate in contrast with the principles of the tax system.
