Brexit has not been in place long enough for conclusions to be drawn about the real consequences of it on British companies and corporations. Even though, there is still much uncertainty about how UK businesses would be affected, the one thing that is clear up to know is that changes will come concerning VAT and import duties. This article does not seek to make a case for or against EU membership; rather we aim to set out the potential tax implications of leaving the EU. The main issue comes indeed from the fact that the UK is no longer part of EU’s Customs Union. As a result, EU’s customs … [Read more...] about Brexit and Tax – What Do Italian Businesses Need to Know?
It is not uncommon for air flights to suffer delays, causing significant adverse consequences for all the passengers. The remedy provided for this type of drawback consist – firstly – in the possibility to apply for a compensatory refund, which, in most cases, is likely to repay the cost of the ticket. The refund must be granted by the airline company itself, in the event that the delay of departure is extended for more than three hours, and the amount of the compensation depends on the number of miles travelled by the delayed flight to the country of landing, noting also whether it is a … [Read more...] about Compensation for Flight Delays
New rules are starting to be set up by the Italian legislator in the after-Brexit European scenario. In tax fields, action comes on two fronts: foreign gift tax and foreign income tax. On the one hand, relative to gift tax, Marche’s Regional Tax Commission – Commissione Tributaria Regionale delle Marche – in a recent ruling, sentence 594/3/2016, stated that in the case of donations realized from a person who resides abroad, he is to be taxed on domestic immovable property, i.e. limited to those assets located in Italy. The Commission hence confirmed that taxation exclusively on domestic … [Read more...] about Brexit, Foreign Gift Tax and Budget Law for Foreign Income Sources
Italian Estate Law generally provides two different kinds of succession: A. Statutory intestate succession (or succession ‘ab intestato’), if there is no will; or B. Testamentary succession, if a will exists. Italian Law regards the will or the testament as a unilateral revocable act by which a person disposes of all or part of his or her patrimony. Through this article we will analyse and understand the various types of will available in Italy, how to go about making a will and what happens after death. The last will and testament is the instrument ultimately fixing the … [Read more...] about How to Make a Will in Italy
Starting a business can likely provide you with a more rewarding life, but it requires careful planning and consideration in order to succeed. Before to start it is important: 1) to have a good business plan (including a brand, a name and a good level of competitor knowledge), 2) to understand your costs before you get going, and 3) to manage your finances once you have started your business. When you are starting a business, taking care of these key start-up tasks properly, and in the right sequence, can help boost your chances of success and get your new venture off to a great … [Read more...] about Set Up A Business In the UK
In the developing world, urbanization has often taken the form of exploding populations in megacities: job perspectives and new technologies tend to attract more and more towards big cities, by increasing the returns to urban proximity. Rural areas, economies and cultures are often the victims here. They are crushed by the dominant globalisation processes, as they are less affected by it than cities. However, it is exactly because the countryside rural areas are places which are often less connected to global networks, that they host refuges where authentic national cultures still persist. … [Read more...] about Need a new start? You could be given a cash reward to live in an Italian village