At the annual seminar in Orvieto of the Visentini FBV Foundation and the Cassa di Risparmio di Orvieto Foundation, the three researches carried out for Bruno Visentini's centenary on the topics of joint-stock companies, the tax authorities and cooperatives were presented yesterday.
After the introduction by FBV President Alessandro Laterza and the intervention of the Attorney General of the Bank of Italy Marino Ottavio Perassi, many scholars intervened to discuss it, including Franco Gallo, president emeritus of the Constitutional Court, who proposed a interesting reinterpretation in a current key of the tax reform conceived by Visentini, the economist and former minister Paolo Savona, the scientific director of the Foundation, Gustavo Visentini (in the photo), Luigi Filippo Paolucci of the University of Bologna, Alessandro Giovannini of the University of Siena and the councilor of the Cassation, Paolo Fraulini.
These, in summary, are the main aspects of the three surveys:
"Regulation of joint stock companies in comparison with other legislations"
The SpA is an institution that belongs to the material constitution of the country and the law that regulates it lays the very foundations of the regulation of the economy, constituting the infrastructure of the private sector in the organization of companies, in the face of the political-administrative control infrastructure . The critical examination of the current situation has highlighted the fundamental questions of legislative policy that most need intervention, including through a proposal for a structured text for the reform of company law, currently unable to contain the abuses. The survey, in comparison with the reality of our economy, is included in the broader theme of the adaptation of our legal system to the most advanced legislations. The final objective is to coordinate our law with the common law that derives from the main foreign systems (in particular, German, French and English) in a multiple and rigorous comparison which, already in the first solutions identified, confirms the importance of a rethinking of company law and the civil justice system. (Scientific coordinator Gustavo Visentini).
“Bruno Visentini: past, present and future of the 1971 tax reform”
The research traces the central role of Bruno Visentini in the various moments that characterized the tax reform of 1971, implemented with the enabling law of 9 October 1971, n. 825; analyzes both the years preceding the launch of the tax reform (1962-1971) and the subsequent years of implementation (1972-1986), focusing on the centrality of Bruno Visentini as the main architect of its realization and on the extreme topicality of his thought; it also systematically reconstructs the entire development and implementation process of the tax reform of the 70s, retracing the parliamentary acts of the period as well as the contributions of various authors and protagonists of the time, such as Cesare Cosciani and Bruno Visentini himself; and explores the reform projects as modified during the parliamentary work of the various study committees and commissions, highlighting fiscal issues which, years later, are still extremely topical such as e.g. tax evasion. (Scientific coordinator Fabio Marchetti).
"The governance of cooperative companies"
The world of cooperatives is a reality in continuous development and the unification process that the movement has started is a choice of great courage. The analysis touched on the nodes of the Italian cooperative system: governance, financial dwarfism, undercapitalization, nodes not resolved by the new legislative provisions on rebates and by the provision of concessions in the event that the Assembly decides on the total or partial allocation of themselves with share capital. All this in comparison with the cooperative movement of other European countries, with Community law and taking into account the effects in other sectors of the law itself, first of all the tax law, as well as the "new" definition of "cooperative" after the reform of company law of the 2003, and the fact that the art. 2511 of the Civil Code defines it only as a "company with variable capital with a mutual purpose", no longer as a "company with a mutual purpose", according to the guidelines that emerged from the Community (see Communication on the promotion of cooperative companies in Europe). An integration of the research is foreseen following the approval of Legislative Decree 18/2016 on the painful reform of the mutual banks. (Scientific coordinator Luigi Filippo Paolucci).
