Tag: 68 – LATEST NEWS & INSIGHTS 13 October 2023
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GDPR: WITH A HISTORIC RULING, THE SUPREME COURT OUTLINES SANCTIONS’ CHARACTERISTICS
The Italian Supreme Court, with an order dated September 22, upheld the appeal of the Italian Data Protection Authority, in which it outlined the necessary criteria of sanctions issued under the European Data Protection Regulation (GDPR). The case stems from a sanction issued to the plaintiff in 2021 by the Italian Data Protection Authority (“Guarantor”),…
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CONTRIBUTIONS FOR FUTURE CAPITAL INCREASES: BETWEEN THE PRINCIPLE OF DETERMINACY AND THE RISK OF BANKRUPTCY
The item of the shareholders’ contributions for future capital increases (versamenti in conto futuri aumenti capitale) has once again been placed under the lens of the Italian Supreme Court. In the recent past, the same Court had already dealt with the matter of the different types of contributions available to shareholders, and defined, in particular,…
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THE COURT OF CASSATION RETURNS ON SALE AND LEASE BACK: CONCRETE PROOF OF PARTICIPATIO FRAUDIS REQUIRED
In a recent decision, the Supreme Court has further clarified the conditions for the validity of the sale and lease back contract. This is, as is well known, the contractual transaction whereby a company sells a capital good to a leasing company, which in turn, after paying the agreed sale price, leases the same asset…
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IMPAIRED LOANS OF BANKS: WHAT INFORMATION TO PROVIDE TO POTENTIAL BUYERS? THE EUROPEAN COMMISSION DICTATES SOME TECHNICAL STANDARDS TECHNIQUES
On October. 19, 2023, Regulation (EU) 2023/2083 published in the Official Journal of the European Union on Sept. 29, 2023 containing templates for the transmission of information to buyers on “NPL” credit exposures in the banking book will enter into force. The Regulation is mandatory in all its elements and directly applicable in each of…
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CRYPTO ASSETS SETTLEMENT BY 30 NOVEMBER: SUBSTITUTE TAX ON FISCAL MONITORING AND PROFITABILITY
The deadline for filing the application for regularisation of past violations concerning crypto assets held up to 31 December 2021 is 30 November 2023: the Italian Revenue Agency clarified this with Provision no. 290480 of 7 August 2023, implementing the rules contained in the Italian Budget Law 2023. Article 1, paragraph 138 and following, of…