da Marco Vergani | Set 21, 2021 | Crypto
L’attività di raccolta fondi per progetti startup in ambito blockchain si è arricchita negli ultimi tempi di una nuova modalità, le IDO Launchpad, che si sta diffondendo rapidamente su piattaforme diverse ma con tratti comuni. Grazie alle performance che i nuovi progetti realizzano una volta quotati (si sono viste crescite a doppia o tripla cifra) il fenomeno delle Launchpad si sta allargando esponenzialmente attirando l’attenzione di potenziali investitori in cerca di opportunità di speculazione.
Da un punto di vista operativo l’investimento in IDO si compone delle seguenti fasi:
- acquisto di crypto valute attraverso un conto gestito da un intermediario (ad es. Binance)
- utilizzo delle cryptovalute acquistate per partecipare alle IDO finanziando progetti di startup disponibili sulle varie piattaforme specializzate
- da notare che l’investimento deve essere effettuato in una particolare valuta (tipo PAID o BNB) quindi il processo di investimento può richiedere diverse operazioni di conversione da una criptovaluta ad un’altra
- una volta perfezionato l’investimento e avuta la disponibilità dei token relativi al progetto (spesso è previsto un periodo di “vesting” più o meno lungo) è possibile scambiare gli stessi sul mercato secondario avvalendosi anche qui di piattaforme specializzate e realizzando possibili plusvalenze
- plusvalenze che vengono pooi “monetizzate” attraverso una successiva conversione delle crypto in euro o altra valuta
Da un punto di vista fiscale un processo di questo tipo coinvolgono principalmente due aspetti:
- l’applicabilità degli obblighi imposti dalla normativa sul monitoraggio fiscale dei capitali;
- gli obblighi connessi all’imposizione delle plusvalenze realizzate tramite negoziazione o prelievo delle valute digitali
Per quanto riguarda il primo punto l’Agenzia delle Entrate (interpello Dre Lombardia 956-39/2018) ha chiarito che anche gli investimenti in criptovalute devono essere indicati nel quadro RW del Modello Unico utilizzando il controvalore in Euro della valuta virtuale detenuta al 31 dicembre fornito dalla piattaforma attraverso la quale è avvenuta la transazione. Si ricorda che sulle valute virtuali l’IVAFE non è comunque dovuta.
Sul secondo punto l’Agenzia delle Entrate ritiene che debbano applicarsi “i principi generali che regolano le operazioni aventi ad oggetto valute tradizionali” contenute nell’articolo 67 Tuir, in base al quale le plusvalenze valutarie appartengono alla categoria dei redditi diversi e tassate, per le persone fisiche, con imposta sostitutiva al 26%. Tuttavia è bene ricordare che le plusvalenze derivanti dalle cessioni a pronti (che qui interessano) sono imponibili soltanto qualora la valuta scambiata provenga da portafogli elettronici la cui giacenza media, espressa in euro, superi un controvalore di 51.645,69 per almeno sette giorni lavorativi continui nel periodo d’imposta (articolo 67, comma 1-ter, Tuir). Pertanto la tassazione si applicherà solo al superamento di tale soglia ( l’Agenzia ha anche chiarito che il valore della giacenza rilevante ai fini della verifica del superamento della soglia, va determinato secondo il tasso di riferimento all’inizio del periodo di imposta in cui si verifica il presupposto della tassazione e considerando, quale prezzo giornaliero, il rapporto di cambio rilevato sul sito dove si acquista la valuta virtuale, o in mancanza, quello rilevato sul sito dove si effettua la maggior parte delle operazioni).
Infine è lecito domandarsi se la plusvalenza che viene tassata nelle operazioni di compravendita venga calcolata unicamente da crypto a euro o anche da crypto a crypto. Sul punto l’Agenzia delle Entrate non ha mai offerto chiarimenti ufficiali tuttavia in un passaggio della citata risposta all’interpello da parte della Dre Lombardia viene testualmente riportato che “Ai fini della eventuale tassazione del reddito diverso occorre, dunque, verificare se la conversione di bitcoin con altra valuta virtuale (oppure da valute virtuali in euro) avviene per effetto di una cessione a termine oppure se la giacenza media del wallet abbia superato il controvalore in euro di 51.645,69 per almeno sette giorni lavorativi continui nel periodo d’imposta”. Ciò lascia dunque intuire la necessità di tassare le plusvalenze maturate, al ricorrere degli altri presupposti di legge, anche nel caso di conversione da criptovaluta ad un’altra criptovaluta.
da Marco Vergani | Lug 21, 2021 | Diritto dei consumatori, E-commerce
The Legislative Decree implementing directive 2019/771 on contracts for the sale of goods in stores, online or remotely, is coming, which will lead to changes in the italian Consumer Code, in order to eliminate obstacles to cross-border purchase and sale operations. Yesterday’s pre-Council of Ministers approved the draft decree on the transposition of the directive (the deadline was 1 July 2021), inserted in the European delegation law 2019-2020. The EU act establishes common minimum standards on sales contracts concluded between consumers and sellers and, in particular, on the conformity of goods with the contract, on remedies in the event of lack of conformity, on the methods of exercising these rights and on conventional guarantees. The legislative decree scheme, in line with the directive, establishes the seller’s obligation to supply updates of the digital content incorporated in an asset. Among the changes introduced, one the most importatant is the one on the seller’s responsibility in any case of lack of conformity present at the time of delivery of the goods, including those with digital elements. The action to assert the defects not maliciously concealed is prescribed in 26 months from the delivery of the goods. Changes have also been introduced to article 135 of the consumer code with a presumption for any lack of conformity that occurs within one year from the time of delivery of the goods, including those with digital elements.
da Marco Vergani | Mar 30, 2021 | Web Tax
The obligations related to the italian Tax on Digital Services (DST) have been postponed to 2021 May 16 for payment for the year 2020 and June 30 to submit the tax return. Once fully operational, within the declaration submission term, it will also be possible to submit a corrective declaration for the previous year. If the DST payment obligations is referable to a non-resident company, attention must be paid to the introduction of a passive solidarity principle for the italian-resident company, even if they are part of the the same company group. The passive solidarity regards the declaration and payment requirements relating to DST on behalf of non-resident taxable persons without a permanent establishment in Italy and located in collaborative states.
It should be noted that the appointment of a tax representative in Italy neutralizes jthis responsability.The non-resident company can designate an italian company of the same group to fulfill the obligations but the italian company must a be subjected to the DST too.
The companies subjected to the DST must keep “a special accounting” for the monthly collection of information on the revenues from taxable services and the quantitative elements used to calculate the part of the revenues generated in Italy, for each digital service performed.
There are two relevant documents, to be signed by the company legal representative and kept until the expiry of the verification terms::
1 analytical prospectus of the information, with monthly recording of the revenues and the quantitative elements used to calculate the tax and its settlement to be drawn up within the payment of the tax (May 16);
2 explanatory note of the information on revenues and quantitative elements used to calculate the tax, to be drawn up by the deadline for submitting the return.
The recent circular 3/E by Agenzia delle Entrate introduce a penalties suspension or the first year of application of the DST, given the objective difficulties and uncertainties, with reference to the accounting obligations for any errors or
irregularities committed during the transmission and compilation of the requested data. There are no penalties for violations
committed before the first 60 days following the date of publication of the legislative provision.
The DST is an indirect tax, deductible for IRES and IRAP purposes.
With reference to double taxation at international level, the problem exists, since the benefits of the double tax conventions cannot be applied.
da Marco Vergani | Feb 2, 2021 | Taxation in Italy, VAT registration in Italy
Since 1st January 2021, the UK has left the European Union and is considered in effect a third-part country. This new position results in the overcoming of procedures previously applicable as a Member State. The VAT matter, beyond the provisions contained in the agreements (both in the withdrawal agreement and in the new commercial one) is certainly one of the most affected by this substantial change.
In a general way a non-resident subject – EU or non-EU – who carries out VAT transactions in Italy can fulfill the related obligations and exercise the related rights or by appointing a tax representative resident in the territory of the State or by identifying himself directly (articles 17 and 35-ter of Presidential Decree 633 / 72).
According to resolution 7 / E / 2021 of 1st February 2021 by Agenzia delle Entrate the same rule is valid for the UK after the Brexit. In particular UK operators who carry out VAT transactions in Italy can operate alternatively through a tax representative or through direct identification. Furthermore, for UK subjects already identified for VAT purposes in Italy or who have already appointed a tax representative, they can continue to operate in these ways without any particular obligation.
da Marco Vergani | Gen 18, 2021 | Impatriate workers, Taxation in Italy
In recent years many foreign individuals are increasingly buying second houses, often prestigious ones, in Italy. The foreign citizen who buys a house in Italy has to deal with the complex Italian administrative and fiscal formalities in addition to having to take care, based on the principle of taxation on a worldwide basis, any further tax and declarative obligations in their own Country of residence.
Basically for non-residents (foreign or Italian citizen who moved abroad) who owns properties in Italy the same legislation as for residents applies. A first distinction must be made between owners who retain possession of the property, for example as a secondary residence, and owners who rent it instead, earning an income. 1. In the first case, no income is taxable in Italy, as the Property Tax (Imu) replaces the personal income tax (Article 8, paragraph 1, Legislative Decree 23/2011) 2. When the non-resident rents the property he own, he produce an income subject to ordinary taxation or the optional flat rate tax regime. Here a particularity of the Italian tax system emerge: the minimal reduction in lump-sum expenses, while abroad the possibility of analytically deducting the costs incurred or significant flat-rate abatements (i.e. for example 50% in France for those who rent furnished apartments). In order to pay taxes with the F24 form a “non-resident” bank account in Italy is needed; alternatively it’s possible to operate bank transfers to specific bank current accounts.
The non-resident also benefits from the non-taxability of the capital gain, if realized later five years from the purchase of the property (Article 67 of the Tuir). If the transfer occurs within five years, it will be possible to exercise the option for the flat tax currently at 26%. This indication is limited to the Italian side: the non-resident must in fact check – in application of the worldwide principle taxation – any further taxation in it’s own Country even if bound by a Convention signed with Italy.
da Marco Vergani | Dic 29, 2020 | Impatriate workers
The tax regime for “impatriate” workers has been reformulated by Legislative Decree 34/2019. The benefits will apply to workers residing abroad in the 2 periods prior to the transfer and who undertake to reside in Italy for at least 2 years working mainly in the Italian territory. For these subjects the personal income tax is reduced by 70% for 5 years. The regime also applies to those who start an individual business.
For those who move to the South of Italy, the tax reduction is 90 percent. Furthermore, to encourage the come back in our country, the benefits will extend for a further 5 years (with a 50% tax reduction in this additional period of time) in the case of workers with at least one minor child or who become owners of residential properties in Italy after transfer.
The start of these benefits was initially established from year 2020. With the subsequent Legislative Decree 124/2019 the provisions have also been made applicable to the workers who had transferred residence “from” 30 April 2019 with effect from the 2019 tax period.
An “ad hoc” regime for workers operating in the professional sport sector had been also introduced. The regime applies to athletes, coaches, technical-sports directors and athletic trainers who work in the CONI recognized disciplines such as football, basketball, cycling, golf, ecc… For these workers, the income resulting from job carried out in Italy is detaxed by 50%.
The facilitation was in fact used in recent months especially by Serie A clubs in football and basketball to attract in
Italy otherwise unapproachable champions (like Zlatan Ibrahimovic and Christian Eriksen or former NBA Luigi Datome and Marco Belinelli in basketball) thanks to the 50% tax discount on their engagement.
But that measure is non yet operational because a future Presidential Decree should define criteria and implementation modalities of this provision. So that incentives for professional sportsmen cannot be effectively applied until the Decree adoption.
