(Finance) – “Today the Council of Ministers definitively approved the first three consolidated texts: tax justice, minor state taxes and administrative and criminal tax sanctions”. This was announced by the Deputy Minister of Economy and Finance Maurizio Leo.
“These measures represent a fundamental step towards greater clarity of the Italian tax system, making it easier for citizens and businesses to understand and comply with the rules. In fact, every single text that we approve reduces regulatory fragmentation and simplifies the lives of taxpayers.”
“Directive (EU) 2020/285 regarding the tax relief regime has been approved VAT exemption for small businesses (in Italy, the flat rate regime) which definitively sets the maximum turnover threshold at 85,000 euros for all European countries”, reported the Deputy Minister.
“The same directive, furthermore, it defines a cross-border regime which allows small businesses not to apply VAT up to a turnover of 100,000 euros as long as there are operations within the EU. With these measures – continues Leo -, we not only improve the competitiveness of our small businesses, but we also make them more capable of operating in a European context, guaranteeing them new growth opportunities”.
Preliminary green light from the Council of Ministers for a legislative decree to adapt the rulesand national anti-money laundering regulations to European provisions. In particular, Palazzo Chigi explains in a note, “on the proposal of the Minister for European Affairs, the South, Cohesion Policies and the PNRR Raffaele Fitto and the Minister of Economy and Finance Giancarlo Giorgetti, approved, in preliminary examination , a legislative decree adapting national legislation to the provisions of Regulation (EU) 2023/1113, concerning the information data accompanying transfers of funds and certain crypto-assets and which amends Directive (EU) 2015/849, and for the implementation of Directive (EU) 2015/849, relating to the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, as amended by Article 38 of the same Regulation (EU) 2023/1113”.
In order to adapt the national law to the provisions of the Travel Rule Crypto (TFR), the note continues, the decree modifies the legislative decree of 21 November 2007, n. 231, (so-called anti-money laundering decree), and makes changes of mere coordination to the decree-law 28 June 1990, n. 167, regarding the recording for tax purposes of certain transfers to and from abroad of money, securities and valuables.