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SHIPBUILDING AGREEMENT: CONDITIONAL WITHDRAWAL

Posted by  | October 18, 2017 | comments
SHIPBUILDING AGREEMENT: CONDITIONAL WITHDRAWAL

RISKS ARISING FROM WIDE WORDING OF CONTRACTUAL TERMS.

A well-known company operating in the shipbuilding sector executed a shipbuilding agreement with a client having as object the construction of a neww pleasure yacht. The contractual clause concerning the terms of payment provided that the first instalment had to be paid upon the execution of the agreement, while the remaining instalments had to be paid upon reaching of certain stages of construction. After completion of the first stage of construction, the client sent to the shipyard a notice ... Read More

FLAT TAX AND INSURANCE POLICIES.

Posted by  | June 26, 2017 | comments
FLAT TAX AND INSURANCE POLICIES.

On May 23, 2017, the Revenue Agency issued the Circular no.17/E in order to clarify the new tax benefits introduced by the Italian Stability Law of 2017 and to give the instruction for the application of the flat tax regime.

The flat tax option provides for the payment of a substitute tax on foreign income equal to Euro 100.000 for each fiscal year and requires the transfer of the fiscal residence from a foreign State to Italy. Moreover, the individual should not be an Italian tax resident for, at least, nine of the last ten years before the option. The above regime also involves income related to insurance contracts taken out by foreign insurance companies. Indeed, such kind of income is considered as a capital ga ... Read More

GO AHEAD WITH THE REVAMPING

Posted by  | March 28, 2017 | comments
GO AHEAD WITH THE REVAMPING

Recently, Gestore dei Servizi Energetici (GSE) issued guidelines on the modus operandi regarding the revamping of photovoltaic plants that benefit from feed-in tariffs according to the Ministerial Decree of 23 June 2016 ("Conto Energia").

The aim of the guidelines is to simplify and to streamline the activities operators must fullfill towards GSE. Revamping means the modernization of existing plants through a total regeneration process that includes an overall renovation aimed at extending the lifetime of the components and updating them with the latest state-of-the-art solutions. One of the guidelines' objectives is to reach the prefixed levels of environmental sustainability by maximizing the PV plants'production of energy. ... Read More

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