The Italian government is working on a new plan for beach concessions to be negotiated with the European Commission.
The plan includes extending current concessions until at least the end of 2025, with potential extensions up to 2029 based on regional availability of free beaches.
The government aims to finalize a coastal mapping by April 2025, which will determine the length of extensions.
The plan also addresses pre-emption rights, compensation for outgoing concessionaires, and potential increases in concession fees.
The government seeks an informal opinion from the European Commission before proceeding with the plan.

This article explores the various limitations and regulations that non-resident foreigners face when attempting to purchase property in Italy.
It delves into the legal framework governing such transactions, the specific requirements and restrictions imposed by Italian law, and the potential challenges that foreign buyers might encounter.
The article also provides practical advice and suggestions to navigate these complexities effectively, ensuring a smoother property acquisition process for non-resident foreigners.

The conversion of the amnesty laws now offers six different paths for regularization, with factors such as the timing of the irregularity affecting the process.
The new legislation has made the process more complex, with different options available depending on the type of violation.

Taxpayers are entitled to a foreign tax credit for taxes paid abroad, even if the foreign income is subject to withholding or substitute tax, as per most double taxation treaties.

This principle was affirmed by the Lombardy Tax Court in ruling 567/1/2024, following the precedent set by the Supreme Court in decision 25698/2022.
The case involved a taxpayer who offset foreign tax credits against U.S. income, leading to a favorable ruling in lower courts but an appeal by the tax office to the Supreme Court.
The Supreme Court clarified that the credit applies regardless of whether the foreign income contributes to the taxable income, provided the withholding is mandatory.
The Lombardy Tax Court reaffirmed this, emphasizing the supremacy of international treaties over domestic law.
The finality of foreign tax payments can be demonstrated by a statement from the withholding agent, even without certification from the foreign tax authority.

Starting from January 1, 2025, a new cross-border franchise VAT regime will come into effect, allowing small and medium-sized enterprises (SMEs) to operate without additional taxes in multiple EU member states.
This article discusses the key changes introduced by the legislative decree approved by the Italian government, implementing EU directives on VAT simplification for SMEs and taxation of streaming services.

Recent court rulings have paved the way for investors to seek refunds from both the Italian Revenue Agency and foreign tax authorities to avoid double taxation on dividends and interest income.
This article explores the implications of these rulings and the potential savings for investors.

Italy's flat tax for wealthy individuals who establish residency doubles to 200,000 euros with the Omnibus Decree.The decree also includes provisions for increased taxation on foreign income for those transferring residency to Italy, as well as measures to address issues related to Zes tax credits and other fiscal adjustments. Additionally, the decree addresses emergency assistance measures, such as providing financial support to residents affected by the collapse of a building in Scampia, Naples.

The European Union has introduced a new regulatory framework for green bonds, known as the European Green Bond (EUGB), which aims to provide a more stringent and transparent standard compared to the existing ICMA Green Bond Principles.

This article explores the key differences between the two frameworks, including compliance costs, reporting requirements, and external verification.

The new EU regulation mandates alignment with the European taxonomy for sustainable activities, periodic impact reporting, and compulsory third-party verification, which are not required under the ICMA standard.
Despite the higher compliance costs, the new framework may offer greater investor confidence and potentially higher returns, known as the "greenium."

The new legislative decree simplifies the calculation and payment procedures for inheritance, donation, and registration taxes, effective from January 1, 2025.

Key changes include the introduction of self-assessment for inheritance tax, the ability for heirs under 26 to use estate funds to pay taxes, and the exclusive use of electronic submission for succession declarations.

The decree also addresses family business transfers, trust taxation, and modifications to stamp duty payments.

Starting October 1, a new credit license requirement will affect 800,000 construction companies in Italy, as mandated by the Dl Pnrr 19/2024.
This regulation aims to combat illegal labor and enhance safety in construction sites.
The decree, currently under final review, will necessitate companies to obtain a credit license from the National Labor Inspectorate (INL) to operate in temporary or mobile construction sites.
The license system will allocate initial credits, which can be increased based on company longevity and compliance with safety regulations.
Exemptions apply to companies with existing SOA qualifications.
This article explores the scope, impact, and critical aspects of this new requirement.

Bauli, a leading Italian confectionery group, aims to reach a revenue milestone of one billion euros by 2030, leveraging its strong 2023 turnover of 634 million euros.

The company plans to expand its international presence, particularly in North America and India, where it already operates a production facility.
Bauli's strategy includes diversifying its product offerings to cater to local tastes and increasing its export revenue to 40% of the total.

Domestically, Bauli is reinventing itself by focusing on new consumption moments and premium product segments.

The company is also exploring mergers and acquisitions to fuel growth and is prepared to adapt to new European food labeling regulations.

Defense properties: 36 sites to be revitalized, including historic buildings, barracks, and lighthouses.
Offers must be submitted by mid-November.

Opportunities for investors to redevelop and enhance these assets for up to 50 years.
Deadline for lighthouses concession is November 20th.

Further opportunities for valorization of military sites through solar panel installations.

Creating a company in Italy can offer numerous advantages to both clients and professionals. Firstly, Italy is a country with a strategic geographical position within the European Union, which facilitates trade with other European countries.

The UniCredit Start Lab, a business platform dedicated to innovative Italian high-tech startups and SMEs, has recognized five outstanding companies addressing critical contemporary issues such as extreme weather, blood shortages, aerospace energy production, and financial education for youth. This year, six corporate partners will support the finalists, and UniCredit has awarded €10,000 to the top startups in each category: Digital, Impact Innovation, Innovative Made in Italy, Clean Tech, and Life Science. The initiative highlights the significant role of young entrepreneurs and the increasing presence of female-led startups. Over 11 years, UniCredit has evaluated over 8,000 projects and supported more than 600 startups, reinforcing its commitment to fostering innovation and growth.

On October 20th and 21st, 2024, Vinitaly USA will take place at the Navy Pier in Chicago. The ICE Agency is organizing a collective open to companies, consortia for the protection of wines, and associations. The call for applications is available on the Agency's website and participation is possible until September 10th.

SMEs, consortia for the protection of wines, and associations will have the opportunity to promote their products and connect directly with buyers and purchasing managers from across the American continent. This is an important opportunity considering that the United States remains the main destination market for Italian wine, with a third of bottles opened in the US coming from an Italian winery. In the first five months of this year, exports reached 800 million euros, with a growth of over 5%.

CHINA: there are government grants for technology companies to expand their business to China.

The grants do not affect their existing intellectual property rights and companies.

Learn more about Stages of Grants for Oversea Talents:

1. Requirement

2. Existing Intellectual Property Rights and Companies

3. Potential Benefits

4. Assessment or Exploration

5. Match