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Tax & Legal

Federal Cabinet releases draft bill for post-covid stimulus package


The German Federal Cabinet has released the draft bill on the crisis management package aimed at mitigating the economic impact of the COVID 19 pandemic. The bill is due to have its first reading at the Bundestag on 19 June 2020, with the 2nd /3rd readings and the final decision of the Bundesrat expected on 29 June 2020. On this timetable the publication in the Federal Law Gazette should occur on 30 June 2020, with the law becoming effective on 1 July 2020. Continue reading

EBA: Report and Action Plan on dividend arbitrage trading schemes such as Cum/Ex and Cum/Cum within the EU


On 12 May 2020, the European Banking Authority – EBA – published its report on the measures and reactions of the addressed authorities in the EU Member States on dividend arbitrage trading, such as Cum/Ex and Cum/Cum schemes. The report states that the relevance of dividend arbitrage trading schemes for the risk management of credit institutions is viewed differently. This is due, in particular, to the different tax systems of the Member States. Nevertheless, the EBA concludes that facilitating tax fraud is detrimental to the integrity of the financial system across the EU as a whole. The EBA is therefore presenting an action plan connected to recent legislative changes in the areas of the Capital Requirements Directive (CRD IV/V) and the Anti-Money Laundering Directive. The Action Plan, with steps taken by the EBA itself as well as and other measures suggested by the EBA, complement existing instruments used by competent authorities and credit institutions. Continue reading

Covid-19 Italy: Measures to support the business liquidity of the enterprises and the credit sector


Prepared by Fabio Alberto Regoli

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading

Covid-19 Italy: Postponement of suspended tax payments


Prepared by Alessandro Caridi and Flavia Barone

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading

Covid-19 Italy: Incentives and tax credit


Prepared by Flavia Barone and Fabrizio Tenuta

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading

Covid-19 Italy: Simplifying measures


Prepared by Alessandro Caridi and Flavia Barone

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading

Covid-19 Italy: VAT – Measures to support the capitalisation of enterprises and tax measures


Prepared by Luca Lavazza

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading

Covid-19 Italy: Measures in Italy to support the liquidity and the capitalisation of enterprises


Prepared by Alessandro Caridi and Flavia Barone

On 19 May 2020 the Law Decree no. 34 has been published in the Official Gazette (“Rilancio Decree“). The new emergency decree is in line with the previous Cura Italia and Liquidità Decrees, introducing inter alia measures to support the liquidity the capitalization of enterprises, incentives and tax credits as well as measures in the context of indirect taxation, tax assessment and tax litigation. Continue reading