Italy has introduced significant changes to the rules governing tax representatives for VAT purposes for non-resident entities. We remind you that companies not resident in the EU are required to appoint a tax representative in Italy in the case of charters departing from Italy, in order to comply with all Italian VAT obligations. In fact, […]
In today’s European insurance landscape, outsourcing has evolved from a simple operational tool into a key pillar of corporate strategy. Outsourcing is regulated by a clear regulatory framework, that is based on the Solvency II Directive and the EU Delegated Regulation 2015/35, which both offer the possibility of delegating services and business functions to third parties, provided […]
With the publication in the Official Journal (Gazzetta Ufficiale), General Series No. 73 of March 28, 2025, Law No. 35 of March 14, 2025, has officially come into force. This law introduces significant amendments to Article 2407 of the Italian Civil Code, which governs the liability of the Board of Auditors (collegio sindacale) in companies. The […]
In an increasingly digitized world, cyber threats are no longer distant risks—they’re immediate concerns. For insurance and reinsurance companies, the stakes have just been raised. The Italian Insurance Supervisory Authority (IVASS) has issued new instructions detailing how entities under its supervision must comply with the Digital Operational Resilience Act (DORA), which becomes fully applicable as […]
The Italian insurance supervisory authority, IVASS, has established March 31, 2025 as the deadline by which life insurance companies must electronically submit data on payments related to dormant policies through the Infostat platform. This requirement, communicated in a notice dated February 12, 2024, formalizes the new reporting procedures outlined in IVASS’s Market Letter of January […]
IVASS (the Italian Institute for the Supervision of Insurance) has observed increasing congestion in claims settlement processes due to the rising frequency of extreme natural events. After gathering relevant information on claims management, the Authority found that some insurance companies have adopted a proactive approach, developing structured medium- to long-term plans to improve overall system […]
In a recent ruling, the Italian Supreme Court clarified the legal nature of posthumous ten-year insurance policies, which, pursuant to Article 4 of Legislative Decree No. 122/2005, builders are required to take out in favor of purchasers. The case before the Supreme Court involved a company that was using a warehouse under a lease agreement […]
On 3 February 2025, the public consultation on the draft Order No. 9/2024 amending Regulation No. 40 of 2 August 2018, ended. Pending the publication of the results by IVASS, the main new features introduced by the measure are recalled below. IVASS has submitted for public consultation draft Order No. 9/2024 which amends both Regulation […]
On November 20, 2024, the Italian Supreme Court (Cassazione Civile, Section II) issued ruling no. 29844, clarifying the responsibilities of non-executive directors in banking institutions. The Court ruled that the duty to “act in an informed manner,” as established by Article 2381 of the Italian Civil Code, applies to all directors, including those without executive […]
In response to the question raised by an Italian company (“Alfa Srl”), specializing in the rental and leasing of passenger vessels, the Italian Revenue Agency (“Agenzia delle Entrate”) has issued a crucial resolution (Risposta n. 1/2025) that allows to apply for VAT exemption on a yacht undergoing a “major refit”. The resolution revolves around the […]
