Drinking water bonus 2021: a 50% tax credit

  With the provision of June 16, 2021, the ItaliaIn nland Revenue set the operating rules for obtaining the 2021 drinking water bonus. Drinking water bonus 2021 in Italy : what it is To rationalize the use of water and reduce the consumption of plastic containers, there is a tax credit of 50% of the expenses incurred between 1 January 2021 and 31 December 2022 for the purchase and installation of systems of filtration, mineralization and cooling and / or addition of food carbon dioxide aimed at improving the quality of water for human consumption supplied by aqueducts. The maximum amount of expenses on which to calculate the subsidy is set at 1,000 euros for each property, for individuals and 5,000 euros for each property used for commercial or institutional activity, for businesses, arts and professions. and non-commercial entities. The information on the interventions will be transmitted electronically to Enea. How to apply for the 2021 drinking water bonus The amount of the eligible expenses must be communicated to the Revenue Agency between 1 February and 28 February of the year following the one in which the cost was incurred by sending the form via the web service available in the reserved area or the telematic channels of the Agency of Revenue (Agenzia delle Entrate). Download form and notice here. After that, the bonus can be used in compensation through F24, or, for natural persons not carrying out business activities or self-employment, also in the tax return referring to the year of expenditure and in those of subsequent years until the full use of the bonus.

Example of a preliminary Italian real estate sale contract

Here is an example of a preliminary contract for the sale of a house or flat. The seller is obliged to sell the property to him under the conditions stipulated in this contract. Here is an example of a preliminary contract for the sale of an Italian building. The seller is obliged to sell the property to him under the conditions stipulated in this contract. If the buyer has paid a small advance, even one or two thousand euros, in the event of the seller’s refusal to sell the property, the latter will have to return double the advance (“caparra confirmatoria”, it is better to specify). If, on the other hand, it is the buyer who retracts, he will lose his advance. You will find the translation below. Obviously, for the sale to be effective, it will be necessary to go to a notary, to whom we will have communicated this preliminary contract beforehand. FAC SIMILAR PRIVATE WRITING REAL ESTATE PURCHASE With this private agreement, to be valid for all legal purposes between: Mr / Mrs ……………… ……. .. … .. … .., born in …………… .. ……. ……… .. on …………… . …………., Resident in ……………. ………………… in the province of ……………………………… Via / Viale / Piazza… .. …………… ………………… .. ……, cod. tax ……………………. ………; “Promissory seller” is Mr./Mrs. ……………… ……………………………. … .. ………, born in …………………… ……… .. on … ………………., Resident in ……………. ………………… in the province of ……………………. …………………………. Street / Avenue / Square …… .. ………, cod. tax ……………………… .. ………; “Promissory buyer” THE FOLLOWING IS AGREED AND AGREED: 1) The promissory seller promises and undertakes to sell to the promissory buyer, who in turn promises and undertakes to purchase for herself and / or for third parties or entities that reserves the right to appoint at the signing of the notarial deed, the unit real estate located in …………………………………… via ……………………………. Floor ……… staircase …… .. …… .. composed of n. ………… .. ……… .. rooms, registered at N.C.E.U. to match no. ………..…………………………….………….….. as follows: – sheet ……………………; map ……………………………; sub …………………. …… .. floor …………… .. ………… area …………………… cat. ……………. No. ………. …… ..vani as well as the pertinence consisting of …………………………………………. registered at N.C.E.U. to the lot as follows: sheet ………… .. ………… maps ……………………. Sub cat. …………… ..… ..; all as highlighted in the cadastral plan which, countersigned by the parties, must be considered an integral part of this sales promise. 2) The promissory seller guarantees the ownership of the property described and guarantees its full availability and delivery to the promissory buyer a copy of the deed of provenance. 3) The promising seller declares that the real estate unit is sold free of any lease or other contract (eg: free loan for use of the property) as well as free from burdens, constraints, mortgages, transcripts and charges that may be prejudicial to the right of ownership and that it is transferred in the state of fact and law in which it is located, with all active and passive easements (subject to any exceptions to be indicated). 4) The promising seller also declares: – to be up to date with the payment of condominium expenses according to the quantities set by the thousandth tables, which are produced in the annex together with the relative condominium regulations and which the promissory buyer undertakes to respect from now on; – that as regards the real estate unit covered by this contract, there are no arrears relating to non-payment of taxes, fees and contributions of any kind, no foreclosures, seizures or other civil, criminal or administrative procedures are pending; – that the income of the promised real estate unit for sale was declared in the last tax return; – that the real estate unit complies with the provisions of urban planning and building regulations and regulations; – that the property is not subject to the provisions of law no. 1089 of 1/6/1939 which protects historic buildings and which has no transfers for donations in the history of ownership, such as to make the rule of art. 563 of the Civil Code which provides for the reinstatement of the quota in favor of the legitimate holders; – that the systems present in the real estate unit comply with current safety regulations. 5) The sale will take place on a lump-sum basis and at the price that is established by mutual agreement in € ……………… ………………… ..…. (in numbers) ….………………………….…………..………. (in letters), which the promissory buyer undertakes to pay to the promissory seller in the following ways and terms: – € …………… .. …………. (in numbers) …………………..……. (in letters) are paid by the promissory purchaser by ……………… .. (indicate the number of the check (s) or details of the bank transfer), at the same time as the signing of this deed and which the promising seller withdraws as a confirmatory deposit issuing a receipt; – € ……………………….…. (in numbers) ……………..………. (in letters) by ……………… .. (indicate the number of the check (s) or details of the bank transfer) as a down payment by the date of …………………………………; – € ……………….…. (in numbers) …………….……. (in letters) will be paid in cash by the promissory purchaser at the same time as the signing of the notarial deed relating to the definitive transfer and which the promising seller will withdraw as the balance of the price. 6) The parties mutually acknowledge and declare that this promise of sale, of exclusively mandatory value between the parties, does not determine the transfer of ownership of the property in question, which will only occur, as well as any other real effect, with the public notarial deed, which must be stipulated no later than … .. / … .. / ……… at the Notary chosen by the promissory purchaser, who undertakes to communicate his name 7 days before the fixed date. Italian original: FAC SIMILE SCRITTURA PRIVATA COMPRAVENDITA IMMOBILIARE Con la presente scrittura privata, da valere a tutti gli effetti

The condominium administrator in Italy: general guide

Did you know that the co-ownership administrator in Italy could be one of the co-owners? The condominium administrator represents an essential figure for the management of the building and its common parts, as well as for translating the condominium will into concrete actions and for carrying out all the necessary operations to protect the team. Powers of the administrator The administrator is required, in the first instance, to take care of compliance with the condominium regulation, as well as to regulate the use of common things and the use of services in the common interest, so that the best enjoyment is ensured to each of the condominiums. In case of conflict, just contact an Italian lawyer. The administrator is also responsible for carrying out the resolutions of the condominium meeting, which the law requires him to convene annually for the approval of the annual management report, which he himself is required to draw up. Current account required In addition, the duties of the administrator also include the execution of tax obligations, the collection of contributions and the disbursement of expenses necessary for the ordinary maintenance of the common parts of the building and for the performance of common services. The administrator is, in fact, obliged to pass on the sums received for any reason by the condominiums or third parties, as well as those for any reason disbursed on behalf of the condominium, on a specific current bank or postal account, in the name of the condominium (not himself); each condominium, through the administrator, may request to view and extract a copy, at its own expense, of the periodic reporting. Condominium documentation and records The law also attributes to the administrator the task of taking care of the keeping of a whole series of important registers concerning the condominium, including the condominium registry, which contains the generality of the individual owners and holders of real rights and personal rights of enjoyment, including the tax code and the residence or domicile, the cadastral data of each real estate unit, as well as any data relating to the safety conditions of the common parts of the building. Furthermore, the administrator will have to take care of keeping the register of the minutes of the meetings, the register of appointment and revocation of the administrator and the accounting register (the latter can also be held in a computerized manner). Again with regard to documentation, the administrator is required to keep all the documentation relating to his / her management relating both to the relationship with the condominiums and to the technical-administrative status of the building and the condominium. He must provide the condominium requesting a certificate relating to the status of the payments of the condominium charges and any ongoing disputes. Who can perform the condominium administrator activity? The office of administrator of the Condominium can be held either by one of the condominiums or by a subject unrelated to the team and specifically appointed. Given the particular function, the person called to perform the functions of condominium administrator must possess certain requirements, both personal and professional, set out in detail in art. 71-bis of the provisions for the implementation of the civil code. Personal requirements In particular, the administrator must have the enjoyment of civil rights, must not be interdicted or incapacitated, nor subjected to prevention measures that have become definitive (unless rehabilitation has taken place) or convicted of crimes against the public administration, the administration of justice, public faith, property or for any other culpable crime for which the law imposes the sentence of imprisonment not less than, in the minimum, two years and, in the maximum, five years. Finally, his name should not be noted in the list of promissory notes. Professional requirements With regard to professional requirements, the administrator is required to have obtained at least the secondary school diploma and to have attended an initial training course and to have carried out periodic training activities in the area of condominium administration. Condominium administrator firm The functions of administrator of the Condominium can be entrusted not only to natural persons, but also to firms. Duration of the assignment and remuneration Pursuant to the civil code, the office of director lasts one year and is considered renewed for the same duration. The shareholders’ meeting convened for the revocation or resignation will deliberate on the appointment of the new director. Upon termination of the assignment, the administrator is required to deliver all the documentation in his possession relating to the condominium and to the individual condominiums and to carry out urgent activities in order to avoid prejudice to common interests without the right to further compensation. In addition, unless expressly dispensed by the assembly, the administrator must proceed with the forced collection of the sums due from the obliged within six months of the end of the financial year in which the credit is included. Article. 1709 c.c. given this postponement and the specific nature of such an assignment, the administrator is deemed to be remunerated for the work carried out. Article. 1709 of the Civil Code, in fact, poses a presumption of onerousness of the assignment, unless otherwise established; in particular, if the extent of the remuneration has not been established by the parties, it will be determined on the basis of professional rates or customs or, failing that, it will be determined by the judge. Upon acceptance of the appointment and its renewal, the administrator must analytically specify, under penalty of nullity of the appointment itself, the amount due as compensation for the activity carried out. Revocation and termination of the assignment The revocation of the administrator can be deliberated at any time by the assembly, with the majority foreseen for his appointment, or in the manner provided by the condominium regulation. Indeed, the judicial authority may be called to rule on the revocation, upon appeal of each condominium, may in the case provided for in the fourth paragraph of Article 1131, if it does not account for

The condominium administrator: general guide

The condominium administrator represents an essential figure for the management of the building and its common parts, as well as for translating the condominium will into concrete actions and for carrying out all the necessary operations to protect the team. Powers of the administrator The administrator is required, in the first instance, to take care of compliance with the condominium regulation, as well as to regulate the use of common things and the use of services in the common interest, so that the best enjoyment is ensured to each of the condominiums. In case of conflict, just contact an Italian lawyer. The administrator is also responsible for carrying out the resolutions of the condominium meeting, which the law requires him to convene annually for the approval of the annual management report, which he himself is required to draw up. Current account required In addition, the duties of the administrator also include the execution of tax obligations, the collection of contributions and the disbursement of expenses necessary for the ordinary maintenance of the common parts of the building and for the performance of common services. The administrator is, in fact, obliged to pass on the sums received for any reason by the condominiums or third parties, as well as those for any reason disbursed on behalf of the condominium, on a specific current bank or postal account, in the name of the condominium (not himself); each condominium, through the administrator, may request to view and extract a copy, at its own expense, of the periodic reporting. Condominium documentation and records The law also attributes to the administrator the task of taking care of the keeping of a whole series of important registers concerning the condominium, including the condominium registry, which contains the generality of the individual owners and holders of real rights and personal rights of enjoyment, including the tax code and the residence or domicile, the cadastral data of each real estate unit, as well as any data relating to the safety conditions of the common parts of the building. Furthermore, the administrator will have to take care of keeping the register of the minutes of the meetings, the register of appointment and revocation of the administrator and the accounting register (the latter can also be held in a computerized manner). Again with regard to documentation, the administrator is required to keep all the documentation relating to his / her management relating both to the relationship with the condominiums and to the technical-administrative status of the building and the condominium. He must provide the condominium requesting a certificate relating to the status of the payments of the condominium charges and any ongoing disputes. Who can perform the condominium administrator activity? The office of administrator of the Condominium can be held either by one of the condominiums or by a subject unrelated to the team and specifically appointed. Given the particular function, the person called to perform the functions of condominium administrator must possess certain requirements, both personal and professional, set out in detail in art. 71-bis of the provisions for the implementation of the civil code. Personal requirements In particular, the administrator must have the enjoyment of civil rights, must not be interdicted or incapacitated, nor subjected to prevention measures that have become definitive (unless rehabilitation has taken place) or convicted of crimes against the public administration, the administration of justice, public faith, property or for any other culpable crime for which the law imposes the sentence of imprisonment not less than, in the minimum, two years and, in the maximum, five years. Finally, his name should not be noted in the list of promissory notes. Professional requirements With regard to professional requirements, the administrator is required to have obtained at least the secondary school diploma and to have attended an initial training course and to have carried out periodic training activities in the area of condominium administration. Condominium administrator company The functions of administrator of the Condominium can be entrusted not only to natural persons, but also to companies. Duration of the assignment and remuneration Pursuant to the civil code, the office of director lasts one year and is considered renewed for the same duration. The shareholders’ meeting convened for the revocation or resignation will deliberate on the appointment of the new director. Upon termination of the assignment, the administrator is required to deliver all the documentation in his possession relating to the condominium and to the individual condominiums and to carry out urgent activities in order to avoid prejudice to common interests without the right to further compensation. In addition, unless expressly dispensed by the assembly, the administrator must proceed with the forced collection of the sums due from the obliged within six months of the end of the financial year in which the credit is included. Given this postponement and the specific nature of such an assignment, the administrator is deemed to be remunerated for the work carried out. Article. 1709 of the Civil Code, in fact, poses a presumption of onerousness of the assignment, unless otherwise established; in particular, if the extent of the remuneration has not been established by the parties, it will be determined on the basis of professional rates or customs or, failing that, it will be determined by the judge. Upon acceptance of the appointment and its renewal, the administrator must analytically specify, under penalty of nullity of the appointment itself, the amount due as compensation for the activity carried out. Revocation and termination of the assignment The revocation of the administrator can be deliberated at any time by the assembly, with the majority foreseen for his appointment, or in the manner provided by the condominium regulation. Indeed, the judicial authority may be called to rule on the revocation, upon appeal of each condominium, may in the case provided for in the fourth paragraph of Article 1131, if it does not account for management, or in the event of serious irregularities. A non-exhaustive list of behaviors that constitute serious irregularities is

The by-law of condominium, or condo, in Italy

Like all forms of aggregation with other people, cohabitation in a condominium must also be regulated so that all owners and tenants can be fully guaranteed of their respective rights to use the property and the common thing. The act entrusted with the heavy task of crystallizing and containing these rules is the by-law of the condo. What is the by-law of condo and what does it contain? The condominium by-law represents the act which regulates a series of important aspects relating to the management body. In particular, the by-law contains the rules for the use of common objects and the distribution of charges, according to the rights and obligations of each unit, as well as the rules for protecting the decorum of the building and those relating to administration. It is therefore all these aspects of life in condo that must be regulated in order to avoid as much as possible the emergence of conflicts between units. This type of internal “payment” is accepted and accepted by the co-owners themselves and the payment also includes the table of thousandths in order to be able to distribute the charges. In addition to those established by law, the by-law may deepen and discipline other aspects and contents due to the peculiarities of individual condominiums. The rules of the by-law will not in any case infringe the rights of each unit resulting from acts of purchase and agreements, nor may it prohibit the possession of pets. Finally, the by-law cannot derogate from a whole series of provisions of the civil code in terms of condo, including those concerning innovations, the waiver of rights over common parts, indivisibility, the administrator’s obligations, etc. Contractual or assembly condo by-law The condominium by-laws can be of different types. The civil code expressly provides for what is known as the condo by-law of the assembly, or agreed and adopted by the condo assembly which approves it by qualified majority, both during training and during review. This type of by-law does not deprive a condo of the rights recognized by law, nor grant other rights. The so-called contractual (or negotiated) by-law, on the other hand, is prepared by the builder then normally accepted and approved by the units attached to the purchase contracts of the individual real estate of which it becomes an integral part. Although this by-law is not approved during an assembly, but at different times, it is in fact accepted unanimously by the units and, for this reason, it may contain more important constraints than that of origin of the assembly, limit the rights that individual units have on their respective properties or common parts, extend the powers of some or guarantee to others more important rights than others. Consequently, this type of by-law must always result from a written document and can only be modified with the approval of all the units. In cases where the assembly fails to form a condominium by-law, or the administrator does not convene the assembly at the request of the individual unit, it will be possible to appeal to the judicial authority. It will therefore be a resolution of the judge, to replace the assembly, to be responsible for preparing the (so-called judicial) by-law which will be valid for all condos. Is the condo by-law compulsory? The Civil Code, in art. 1138, establishes that the condo by-law must be adopted when the number of condos exceeds ten. However, since there is no sanction in case of violation of this obligation, if the condominiums required to adopt a by-law do not do so, their relations will be regularized by the rules governing the use of common things in general . For condos where this threshold is not reached, the drafting of a by-law is however optional: however, when you decide to adopt an ad hoc act, this will have the same effectiveness as the compulsory condo by-law. Adoption and modification of condo by-laws Always the civil code specifies that each joint ownership can take the initiative of the formation of the by-law of joint ownership or the revision of current. The assembly will then have to approve the by-law by a resolution, the number of votes for represents the majority of those present and at least half the value of the building. For the modification of the contractual by-laws on the condo, however, the consensus of the condos will be required. Once approved, the by-laws will then be attached to the register of meeting minutes taken over by the administrator and will be valid for all condos. It will be possible for dissidents to challenge it before the judicial authority, according to the procedures provided for in art. 1107 of the Italian Civil Code, within 30 days of the resolution. It is the task of the administrator, in accordance with art. 1130 of the Italian Civil Code, to ensure compliance with the rules of the condominium, as well as keeping the register of minutes of meetings, to which it will be attached.

Purchase proposal of property & preliminary contract, what is it?

When you buy a house, you start a multi-step process. It is important to know each step to complete the operation in the best possible way. Let’s see in particular what the purchase proposal and the preliminary contract are. The purchase proposal The purchase proposal is the declaration of the buyer wishing to buy an asset at a given price. Typically, this is a pre-printed form provided by the real estate agency, along with the payment of a sum of money as a deposit. Signed, the purchase proposal contains commitments already binding for the buyer, while the seller remains free to evaluate the other offers. The purchase proposal commits only the party who signed it. Once accepted by the seller, the purchase proposal is automatically converted into a preliminary contract. The preliminary contract The preliminary contract (or compromise) is a real contract that obliges both parties to sign the final contract. The preliminary must indicate the main elements of the sale: the price, the house to buy, the address, a precise description with the cadastre data and the date of the final contract. In the case of the sale of buildings under construction, special rules are defined for the preparation of the preliminary contract. It is not mandatory that the preliminary contract be stipulated by a notary, but it is good to specify with the notary what the resulting obligations are. The transcript is valid as a real reservation of the purchase of the property, this means that the seller cannot sell the property to anyone else, nor grant a mortgage on the property, nor constitute a passive servitude or any other prejudicial right. The potential creditors of the seller will not be able to register a mortgage on the property promised for sale or seize it. From the moment of the transcription of the preliminary contract, the property is “reserved” to the future purchaser, and any transcription or recording would have no effect on him. When registering the preliminary contract, the following taxes must be paid and will be recovered at the time of finalization: 0.50% on the deposit 3% of the amounts paid as down payment.

Exemption IMU 2019, first home and second home

Facilitations or reductions not only for the main house News of the stability law of 2016: exemption of the IMU and TASI The new Stability Law of October 2015 introduces the abolition of IMU and TASI on the main house, provided that they do not fall under the A1, A8 A9 cadastral categories, namely luxury houses, villas and castles. The reduced rate for luxury homes, villas and castles The last three categories may, however, benefit, if they are used as principal residence, from a reduced rate of 0.40% which can be further reduced or increased by 0.2% by municipal resolution, as well as a deduction of 200 euros. The same goes for the outbuildings, one for each category C2 (warehouses, depots, cellars), C6 (parking spaces, garages, garages, etc.) and C7 (closed or open roofs). Local social housing units as well as those owned by construction companies with undivided properties will be exempt from paying the IMU as long as they are still used as main dwellings. Even those for university students will be eligible for the exemption. Exemption granted to the house of the separated spouse Another novelty concerns the exemption granted to the house allocated to the spouse as a result of the legal separation, but also in case of annulment or dissolution of the civil effects of the marriage. Italians enrolled in AIRE Even for AIRE registrants, there is some news as they will also be able to enjoy the benefits, but only for a house in case of purchase or usufruct with the corresponding dependencies (up to one for each category). see above) and provided that the local unit is not rented or loaned. If they have more, they can choose the one that asks for an exemption. Also with a specific municipal resolution, municipalities may also introduce other forms of facilities, within the limits of fiscal balancing objectives, that provide for reductions or exemptions for persons admitted to health facilities as a result of hospitalization, whether elderly or disabled. Foreigners residing abroad We see the case of natural persons residing abroad who own real estate in Italy for the purposes of facilities for IMU and TASI. It often happens that husband and wife have a house in Italy. The wife and her children moved to a residence abroad or vice versa, while her husband continues to reside in Italy. In these cases, it is necessary to determine whether the property in Italy can be considered as the main residence of the family and thus benefit, for IMU and TASI purposes, from the “first home” facilities. Criteria for an alien to be considered resident in Italy First of all, I remind you of the criteria for establishing a residence in Italy by a foreign person. In this regard, it is necessary to clarify how to apply the “first home” for the purposes of IMU (and TASI), specified the legislator, pursuant to art. 13 (2) of D.L. 201/2011 that “the main dwelling refers to the property, registered or entered in the land register of urban constructions as a single real estate unit, in which the owner and his family unit usually reside on a random basis”. Therefore, in the light of the above-mentioned regulations, property owned in Italy by natural persons (ie entire families) who do not reside can not be considered as “principal residence” and benefit as a such, exemptions IMU and TASI.

Criteria for determining the tax residence in Italy

The criteria for determining the tax residence of natural persons in Italy They are dictated by Article 2 of the D.P.R. 917/1986 (“TUIR”), which states that for the purposes of income tax, are considered to be residents of the State natural persons who for most of the tax period are registered in the population registers of the resident population, or have their residence or domicile in the territory of the State under the Civil Code. The conditions mentioned above are alternatives; this means that the existence of only one of them is sufficient to suggest that a person is qualified as residing in Italy for tax purposes. Residence for civilian purposes As expressly provided by the tax law, reference should be made to the concepts of the Civil Code which, in Article 43, provides that “the domicile of a person is situated at the place where he has established the seat of his business and the residence is where the person lives habitually”. Difference between residence and domicile Whereas the residence is linked to the permanence of the subject in a sufficiently stable place and with the intention of settling there (objective data), the domicile consists of the concentration of the affairs and interests of the person at a particular place without the need for his actual presence in that place (objective data) and the desire to establish and maintain in a particular place the main “center” of the generality of relations (subjective data). The notion of interests to which reference should be made, once limited to the economic and financial sector of the subject, must be understood as referring, by unanimous jurisprudential interpretation, to the moral, social and family sphere of the subject. With regard to the temporal aspect, the criterion retained by the legislator is that of the temporal prevalence during the tax period. With regard to the precise definition of the tax period, reference is made to Article 7 of the TUIR according to which the reference period is therefore the calendar year. Residents who have been in one of the above conditions for at least 183 days (184 days in leap years) are considered residents. Tax havens In this regard, the legislator has recently introduced paragraph 2-bis of Article 2 of the TUIR which states that ” are considered as residents, unless proven otherwise, Italian citizens removed from the population register of the resident population and transferred to states or territories other than those identified by decree of the Minister of the Economy and Finance … “In practice, Italians who have transferred their homes and / or their residences to tax havens are considered as residents in Italy, unless proven otherwise. Residency in tax havens To be complete, note that the above-mentioned list of countries, “tax havens”, may be updated in accordance with the guidelines of the OECD and other international and / or community organizations. In this regard, we mention some of the preferential tax countries included in the above-mentioned list in 2011 to name a few: Andorra, Bahamas, Barbados, Bermuda, Philippines, Hong Kong, Lebanon, Liechtenstein, Macao, United Arab Emirates , Monaco, San Marino, Singapore, Switzerland, Vanuatu.

Buying a home that has been given, risks and remedies

Buying a donation house in Italy, what are the risks and how to avoid them Buying a home from a vendor who has received a donation may be risky and the bank may not grant the loan. Let’s see why and how, thanks to a recent decision, it is possible to avoid problems. Donation may be contested within 20 years of being transcribed or within 10 years of the donor’s death. A long time. And with the protest the heir can recover the given property, even if his property has already been transferred. In order to protect the gift, the heir may waive the action by signing an official document when the donor is still alive. To clarify it there is the judgment of the Court of Pescara n. 250/2017. This decision is based on what has already been expressed by the Court of Turin (Judgment No. 2298/2014). In the case of a donation, it is therefore good to defend oneself against the heirs and their actions. First of all, it should be remembered that the person who gives a home to a parent or a third party performs an act that could harm the so-called legitimate heirs, to whom Italian law always grants a minimal share of the estate of the deceased, even in spite of his will. They are the spouses, their children, the parents and the brothers and sisters of the deceased. This means that if a person, while still alive, make donations depleting his assets, or with his will, leaves most of his property to persons other than the legitimate heirs, they may experience the so-called “action of reduction of the legitimate part “. The action aims to recover the part of the inheritance that is due to them by law. In this way, those who benefit from a donation of the deceased are obliged to return the property to the heirs even after the transfer of ownership in their favor. Not only that. If the donor sells the property to another person, the lattermay also be the subject of the heirs reduction action and, therefore, be obliged to return the property to the legitimate ones. The reduction action can no longer be experienced beyond a certain term. The right of the heirs to recover the property dumped from the estate of the deceased, who damaged their rights,  prescribes alternatively under: 20 years from the transcription of the donation in the public register; 10 years from the opening of the succession, that is to say the death of the donor. After this period, if no action is taken, the gift becomes unassailable. But the practice of the notary has developed a faster solution, validated now by the judges. It is a question of having the legitimate heir sign a waiver to contest the donation: he thus undertakes not to proceed with the restitution of the property. If the legitimate heirs are more than one, the signature must be collected by everyone. The waiver can be signed when the donor is still alive, that is, shortly after the donation itself. The judgment states that the renunciation of the legitimate heir to the action of restitution of the given property is valid even if it is completed before the death of the donor and before 20 years from the transcription of the donation. If made with a notary act, it can be noted in the real estate registers on the sidelines of the donation in order to be public and knowable by anyone. It is necessary to emphasize however that with this agreement the legitimate heir does not lose its legitimate part, that he can always claim also against the donor; he undertakes not to claim the object of the agreement, without prejudice to the possibility of defending his rights in a different way. Therefore, the situations that may arise are as follows: if the donor is still alive, the legitimate heir can only give up the action to recover the property, it means that he will no longer be able to claim the property object of worship, but can still act against the donor to obtain (in a different way) his legitimate share. If the donor is dead, the legitimate heir may renounce both the action to obtain restitution of the property, and the action of reduction of the legitimate share.  

The obligation to keep auxiliary warehouse registers

The circumstances under which the law demands auxiliary warehouse registers According to the wording of Article 14 of Presidential Decree 600/1973 and Article 1 (1) of Presidential Decree 695/1996 taxpayers are required to keep auxiliary warehouse registers as of the second tax period following that in which, for the second consecutive time, the amount of the products and the total quantity of stocks are higher by 5,166,569 EURO and 1,032,914 EURO respectively. As a result, if an enterprise in years n and n + 1 has exceeded the above limits, the inventory accounting obligation will start from year n + 3 (second period after tax). In order to exclude the obligation to have to take over the daybook, the book of inventories and documents required for VAT their ancillary warehouse entries, you must then carry out a separate check of the two values indicated: Revenues and inventories. It becomes essential to understand, for both income and inventory, what items to include or exclude. In terms of turnover, considering that in the event of the start of the business or tax year not coinciding with the calendar year, the same should be converted into one year, should be taken into account: The proceeds from the disposition of the property and the provision of services; The proceeds from the sale of raw materials and semi-finished products; The consideration for the sale of non-mobile equipment; Fees for the sale of trading securities; The value of the goods that are consumed or destined for purposes other than those of the company; The insurance indemnity (for a discussion on remuneration see Tax Circular No. 18/2017) of commodities; The contributions due under the contract; Account / year contributions due according to the law. However, are excluded from the calculation: Capital gains; Potential assets; Account / capital contributions; The proceeds from the sale of mobile equipment; dividends; Interest income; Income from real estate. Please note that if multiple activities are exercised, the income to be taken into account are the total sum of the income from the individual activities. With regard to inventories, however, since these are the same rules for carrying out the activities referred to in the preceding paragraph, it should be noted that you should not update the accounting entries each year. For the elements included in the calculation, it is necessary to distinguish: Products whose production and exchange are commercial activities; Raw and auxiliary materials and semi-finished products; Work, supplies and services are performed at the end of the year. Credit-related securities are excluded. The obligation shall cease from the first tax period following that in which the amount of proceeds or the value of inventories for the second consecutive time is less than the limits indicated. Remember that auxiliary warehouse registers are not required for individual companies and companies that operate in simplified accounting, and business professionals. The legislature also excluded from the obligation to keep ancillary accounting of stocks: Retailers selling in places open to the public, in in-house stores or by automated equipment, mail-order, home or mobile; Persons who sell hotel services; Persons who sell food and beverages in public exercises, in company canteens or by vending machines. The obligation rests with these persons only if they use centralized warehouses which serve one or more shops and provided that at least one of them is situated in a different municipality from that where the activity is carried out. It was also pointed out that, in the case of the conduct of retail and wholesale activities carried out on the same premises, for the purpose of obligatory verification of the auxiliary entries of the warehouse, the same rules prevail as for retail trade. They are so-called freight companies or those that deal with the supply of goods and not their production. The wholesalers are obliged in any case to keep auxiliary records of the warehouse, while for retailers the considerations that precede apply.