Extension of the VAT split payment, anti-fraud measures, increased taxation on gaming and facilitated settlement of tax disputes. These are some of the main measures contained in the decree law on the additional maneuver requested by Brussels, the value of which is equal to 3,4 billion euros (0,2% of GDP). The provision also establishes measures in favor of local authorities and interventions in favor of earthquake-affected areas. The text again includes measures to support the Ryder Cup of golf and the 2020 World Ski Championships.
SPLIT PAYMENT ON VAT PAYMENTS OF THE PA
The scope of application of the VAT split payment mechanism is extended to all administrations, bodies and subjects included in the Public Administration, companies controlled directly or indirectly by the State, in law or in practice, companies directly controlled by local public bodies, listed companies included in the Ftse Mib index of the Italian Stock Exchange. Furthermore, transactions carried out by suppliers who are subjected to the application of withholding taxes on the fees received (essentially freelancers) are also included. The changes apply from invoices issued starting July 2017, 1,2. This measure should be worth 1,3-XNUMX billion.
TAX, ANTI-FRAUD MEASURES
The maneuver also introduces more stringent rules to counter the undue uses to offset tax credits. The limit above which tax credits can be used in compensation is reduced from 15 to 5 euros only through the affixing of the professional's approval of conformity (or alternative signature of the statutory auditor) on the return from which they emerge. If the compensations are carried out without the approval of conformity or without the alternative signature, or if these have been affixed by non-authorised subjects, the Revenue Agency proceeds with the recovery of the credits used in violation of the rules, in addition to the recovery of interest and the imposition of sanctions.
GAMES
An increase is expected, starting from 1 October 2017, of the single tax levy (Preu) on amusement machines (the "new slots" or AWP) and on the collection deriving from "videolotteries" or VLT machines. From the current 6% it should rise to 12,5% as for Bots.
ACE BASE REDETERMINATION (AID TO ECONOMIC GROWTH)
The criteria for determining the reference base on which to calculate the notional return for ACE purposes have been changed. In particular, the aim is to progressively abandon the incremental criterion on a fixed basis.
FACILITATED SETTLEMENT OF TAX DISPUTES
It will be possible to settle disputes falling within the tax jurisdiction in which the Revenue Agency is a party by paying the amounts disputed with the contested deed and interest from delayed registration, net of penalties and default interest (the request definition must be presented by 30 September 2017). In short, a discount on disputes.
RECONSTRUCTION ACCELERATION FUND AND FREEZONE
A specific fund of one billion euro is set up for each year of the three-year period 2017-2019 to accelerate post-seismic reconstruction activities. Among the measures, an urban free zone is established in the Municipalities of the Regions of Lazio, Umbria, Marche and Abruzzo affected by the earthquakes that have occurred since 24 August 2016, in favor of companies with headquarters or premises within the same free zone and which have suffered a decrease in turnover following the seismic events.
These companies can benefit, in relation to the income and the value of net production deriving from the continuation of the activity in the aforementioned Municipalities, from a two-year exemption from Ires and Irpef (up to 100 euros of income), IRAP (up to 300 euros of net production value) and Imu, in compliance with the limits and conditions established by the "de minimis" regulations.
ECONOMIC DEVELOPMENT AND INFRASTRUCTURE
There will also be some measures for economic development and infrastructure, including: the strengthening of incentives for listings with reference to small and medium-sized enterprises (equity crowdfunding); the temporal extension of the concessions for innovative start-ups; rules to facilitate project finance in the modernization of public sports facilities; measures for the quality of the local public transport service and the renewal of rolling stock; the adaptation of regional railway lines to national safety standards; the containment of the costs of the air navigation services provided by ENAV at low-traffic airports; the alignment of the discipline of the patent box regime (introduced by the 2015 stability law) to the OECD guidelines; provisions for the realization of the "Ryder Cup 2022" sports project and for that of the ski world cup finals in March 2020 and the alpine ski world championships to be held in Cortina d'Ampezzo in February 2021.
DISTRIBUTION OF THE MUNICIPAL SOLIDARITY FUND
The statistical correction established by the 2017 budget law for the definition of the amounts due to each municipality from the Municipal Solidarity Fund has been modified, thus accepting the request made in this regard by the National Association of Italian Municipalities.
CONTRIBUTION TO THE PROVINCES OF THE SARDINIA REGION AND THE METROPOLITAN CITY OF CAGLIARI
A contribution to the provinces of Sardinia and the metropolitan city of Cagliari is on the way for 10 million euros for the year 2017 and for 20 million euros per year starting from 2018.
CONTRIBUTION TO THE PROVINCES OF REGIONS WITH ORDINARY STATUTE
The provision provides for a contribution in favor of the provinces of the regions with ordinary statute for 110 million for the year 2017 and for the year 80 million starting from 2018 to safeguard the balance of the budget. In addition, 100 million are planned for 2017 for road maintenance.
STANDARD NEEDS AND FISCAL CAPACITIES BY REGION
The procedure is introduced for the determination of standard needs and standard fiscal capacities of the Regions with ordinary statute, also for the purpose of distributing the contribution to public finance among the Regions themselves.
ALLOCATION OF INVESTMENT SHARE REGIONS
Following the Understanding in the State-Regions Conference, the allocation of resources in favor of the Regions for the realization of investments from the fund referred to in article 1, paragraph 140, of law n. 232 of 2016, aimed at ensuring the financing of investments and the infrastructural development of the country.
LOCAL PUBLIC TRANSPORT
The provision also contains the stabilization of the Fund intended for the financing of local public transport (4.789.506.000 euros for the year 2017 and 4.932.554.000 euros for the years from 2018 onwards) and the increase from 60 to 80% of the anticipation of the disbursement of the fund itself, also in order to reduce the payment times of the debts of the PA.
INFORMATION FLOWS OF PHARMACEUTICAL SERVICES
The Italian Medicines Agency will be allowed, on an experimental basis, direct access to information flows for monitoring pharmaceutical assistance, to the data of the dematerialized pharmaceutical prescription present in the Healthcare Card system and to the electronic invoicing data relating to medicines.
Financial spaces for investments in favor of the Regions – The regulation establishes the allocation and methods of use of the financial spaces in favor of the Regions for 500 million euros for the year 2017 envisaged by the 2017 budget law.
RAISE OF TURN OVER AND COMMON STAFF PROVISIONS
The regulations increase the percentage of personnel turnover from 25 to 75 per cent, even for municipalities with a population of more than 10.000 inhabitants. Furthermore, it raises the turnover for virtuous entities in the management of financial spaces for investments to 90%.
