Patrizio Braccioni briefly comments on the above six minutes video dedicated to non- resident investors. The concept of corporate tax governance is getting stronger and stronger in the Italian tax environment. Starting from 2015 legislation on the tax cooperative compliance regime and its further developments, the Italian Law 231/2001 about responsibilities of corporate bodies deriving from crimes committed by their directors, executives, managers and employees, recently embodied also tax crimes for the first time. Law 231 is sometimes referred to as the “Italian Sarbanes – Oxley Act”. Even more recently, with a decree which has become effective last week (30 July), the Italian Government executed the EU Directive set in order to counteract frauds against the EU through criminal law. This caused the inclusion of VAT transnational tax crimes in the Law 231 list; finally, also DAC 6 was executed last month. Thus, especially for very large, large and mid-size companies, corporate tax governance principles seem no longer to be a “nice to have” in order to operate in the Italian tax and business environment, but truly a “must”.
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