This article explores the launch of 59 innovative projects aimed at transforming the Italian industry through sustainability and advanced technology.
Funded by two Mics (Made in Italy Circolare e Sostenibile) calls, these projects received a total of 21.5 million euros, involving 87 companies and 26 universities.
The initiatives span various sectors, including fashion, furniture, and automation, with a significant focus on the South of Italy.
The article also highlights the upcoming roadshow designed to engage local territories and promote the future of Made in Italy.

In the first quarter of 2024, Italy's export of goods reached a historic milestone by matching Japan's export levels, positioning Italy as the fourth-largest exporter globally.
This achievement comes despite a challenging global economic environment marked by stock market crises, the deflation of the AI bubble, potential U.S. recession, and prolonged stagnation in Germany.
Italy's export value stood at $168 billion, equaling Japan's, which saw a 3% decline.
This article explores the factors behind Italy's impressive export growth, the historical context, and the future outlook for maintaining this competitive edge.

In the first quarter of 2024, Italy experienced a significant 3.4% increase in real per capita household income, the highest among G7 nations.
This growth, driven by higher wages and social transfers, contrasts with the previous quarter's decline.
Factors such as controlled inflation, tax reforms, and increased household savings contributed to this positive trend.
Prime Minister Giorgia Meloni praised the results, attributing them to government policies.
Other G7 countries also saw varying degrees of income growth, with Germany and Canada showing notable improvements.
This commentary critically examines the factors behind Italy's income surge and its implications.

The tourism industry is undergoing significant transformation driven by digital innovation and a growing emphasis on sustainability.
According to Assolavoro, these factors are reshaping the demand for skills within the sector.
The industry employs around 380,000 people across more than 76,000 businesses, with a notable concentration in micro and small enterprises.
The seasonal nature of tourism impacts employment dynamics, leading to fewer permanent contracts compared to other service sectors.
Technological advancements, sustainability concerns, and personalized digital communication are the primary trends influencing new professional roles.
These include positions in air transport, hotel management, and marketing, all requiring specialized skills in digital tools and sustainability metrics.
The qualification of personnel and the adoption of more secure employment contracts are essential for the sector's competitiveness and growth.

The new tax credit scheme offers up to 45% savings on investments that meet the dual requirements of the Transition 5.0 plan.
Structured in three levels based on energy consumption reduction, the credits apply to investments up to 50 million euros per year.
Projects initiated from January 1, 2024, and completed by the end of 2025 can benefit from these credits, which are higher than those offered by the previous Industry 4.0 incentives.
The credits are tiered based on the extent of energy savings achieved, with the highest credits available for savings exceeding 10% in production structures or 15% in processes.

The European office real estate market is witnessing a resurgence in investor interest following a significant repricing in 2023.
This repricing has made office assets more attractive, particularly in Germany, the Anglo-Scandinavian region, and the USA. According to CBRE, office investments in Europe grew by 1% in the first half of the year, reaching €18.7 billion.
Investors are now eyeing both prime and distressed office assets for their potential high returns.
Despite challenges such as debt absorption and a shortage of new office spaces, the market fundamentals remain strong, especially in Southern Europe.
The divergence between prime and secondary office spaces is becoming more pronounced, with prime offices maintaining higher values and lower vacancy rates.
In Italy, Milan and Rome are leading the recovery, with significant investments and strong market fundamentals.

The Lombardy Tax Court's decision in case no. 567/1/2024 has significant implications for taxpayers with foreign income.
The court affirmed that taxpayers are entitled to a foreign tax credit even if the foreign income is subject to withholding or substitute tax, aligning with the principles established by international double taxation treaties.
This ruling, which follows the precedent set by the Italian Supreme Court in case no. 25698/2022, underscores the supremacy of international agreements over domestic law.
The decision also clarifies that the finality of foreign tax payments can be demonstrated through a statement from the withholding agent, rather than requiring certification from foreign tax authorities.
This article explains some details of the case, the legal principles involved, and the broader implications for taxpayers and tax authorities.

The tax authorities have confirmed that a specific scheme for a shareholder's exit and generational transition does not constitute tax evasion.
The process involves shareholders transferring their shares to new single-member holding companies, which then purchase the shares of the exiting shareholder using bank financing.
The holdings repay the loans with dividends from the operating company.
This method is deemed legitimate and does not provide undue tax advantages.
The scheme ensures a smooth exit for the departing shareholder and facilitates the generational transfer of shares without triggering adverse tax consequences.

The legislative reform of inheritance and donation tax is moving towards approval, following a non-binding opinion from Parliament on July 24.
The reform focuses on the redefinition of Article 56-bis of the Tus (Legislative Decree 346/90), particularly concerning indirect and informal gifts.
These gifts, distinct from formal donations, include indirect gifts achieved through legal acts and informal donations that result in direct asset transfers without formal documentation.
The new decree eliminates the quantitative condition for these gifts and introduces specific exemptions.
It also confirms the conditions under which these gifts can be assessed and taxed.
The article highlights the civil and fiscal discrepancies regarding informal donations, emphasizing the need for careful consideration in estate planning.

The introduction of a new optional flat tax regime for certain Italian cross-border workers employed in Switzerland, effective from the 2024 tax period, marks a significant shift in fiscal policy.
This regime, outlined in Article 6 of the Omnibus Decree, targets residents within 20 km of the Swiss border who work in the Swiss frontier area.
These workers can opt for a 25% substitute tax on their Swiss-earned income, replacing the progressive Irpef tax and associated credits.
This change aims to align the tax burden of new cross-border workers with that of their predecessors.
However, the new regime comes with specific eligibility criteria and additional obligations, such as contributions to the National Health Service.
This analysis explores the implications, potential issues, and critical aspects of this new tax policy.

The recent legislative reform introduces a new consumption tax on e-cigarettes, alongside stricter sanctions.
This tax applies to non-combustible inhalation products, excluding those authorized as medicinal products.
The tax rate is set at 40% of the cigarette excise duty, with the exact amount determined annually by the Customs and Monopolies Agency (Adm). The tax must be paid by manufacturers, intra-EU suppliers, or importers, who are also required to manage authorized warehouses and provide financial guarantees.
The sale to end consumers is restricted to authorized retailers.

The recent decree on indirect taxes introduces a significant change in the taxation of trusts.
Taxpayers can now choose between immediate taxation upon the transfer of assets to the trust or deferred taxation when the trustee distributes the assets to the beneficiaries.
This reform aims to provide greater fiscal certainty and flexibility.
The decree also clarifies that if the immediate taxation option is chosen, the tax paid is final and non-refundable, even if the asset transfer does not occur.

In the context of community sales, the VAT exemption regime applies if the seller can prove that the goods have been transported to another member state.
This can be achieved by collecting documents as per Article 45-bis of EU Regulation 282/2011, amended by Regulation 1912/2018, or by following guidelines provided by the tax authorities over the years.
Recent jurisprudence has also favored a substantial approach, accepting various documents as valid proof.
This article explores the different documentation requirements and levels of protection for sellers, depending on whether the transport is handled by the seller, buyer, or a third party.

The recent legislative reform approved on August 7 by the Council of Ministers, awaiting publication in the Official Gazette, emphasizes criminal penalties over administrative ones for customs violations.
The new framework categorizes offenses into smuggling due to omitted declaration and smuggling due to false declaration, with administrative penalties applied only in specific minor cases.
The reform raises concerns about the proportionality and effectiveness of penalties, especially for errors stemming from interpretative difficulties rather than intentional evasion.
The involvement of judges in assessing the subjective intent of the violator adds complexity to the enforcement process.

The Italian Supreme Court's decision in ruling 22700/2024 has reaffirmed the VAT applicability on charges for staff secondment, even when these charges merely cover costs.
This decision aligns with the European Court of Justice's 2020 ruling, which deemed Article 8, paragraph 35 of Law 67/1988, excluding such transactions from VAT, as contrary to EU principles.
The case has been remanded to the lower court to determine if a direct link exists between the service provided and the compensation received.
This ruling highlights the ongoing confusion among operators due to inconsistent judicial interpretations and underscores the need for clear guidelines from tax authorities.

This commentary critically examines the decision of the Cgt Veneto in case 516/7/2024, which ruled that the revaluation and subsequent sale of shares to the issuing company does not constitute an abuse of rights under Article 10-bis of Law 212/2000.
The case arose from a dispute with the tax authorities, who argued that the transactions were designed to avoid withholding taxes on capital income.
The court, however, found the transactions to be lawful and not part of a fraudulent scheme.
The decision underscores that taxpayers are entitled to choose the most tax-efficient legal options available to them, provided they do not engage in artificial or abnormal practices.

The recent legislative changes introduced by Legislative Decree 108/2024 have brought significant improvements for companies opting to adopt the Tax Control Framework (TCF) voluntarily.
These enhancements include the elimination of administrative penalties and the prevention of criminal charges for certain tax violations, provided they are communicated in advance through a formal query.
However, the full implementation of these benefits is contingent upon the issuance of a ministerial decree detailing the application procedures.
The TCF not only aligns with corporate governance and internal control systems but also promotes sustainability, making it a valuable tool for SMEs and professional firms.
Despite its potential, the lack of specific implementation guidelines remains a critical hurdle.

Starting October 1, a new credit license requirement will impact 800,000 construction companies in Italy.
This mandate, introduced by the Dl Pnrr 19/2024, aims to combat irregular labor and enhance safety in construction and civil engineering projects.
The credit license will be issued by the National Labor Inspectorate (Inl) and will require companies to meet specific criteria.
The initiative also includes the hiring of 750 new safety inspectors.
While the measure is seen as a positive step towards transparency and safety, it raises concerns about its impact on younger companies.
This article delves into the details of the new regulation, its scope, and its potential implications for the construction industry.

The Court of Reggio Emilia has ruled that financial reports must include detailed information received from foreign entities.
This decision highlights the need for complete and accurate data in contesting invoices for non-existent operations.
The ruling emphasizes that generic and partial information from foreign bodies is insufficient for such claims.
The court's decision underscores the importance of transparency and thoroughness in financial reporting, especially in the context of international transactions.

This review critically examines the recent EU anti-money laundering regulations introduced in June 2024.
It highlights the significant statistics on global money laundering, the new regulatory measures focusing on transparency and effective ownership, and the extended obligations to emerging sectors like cryptocurrencies.
The review also discusses the potential role of technology in enhancing regulatory effectiveness and the challenges in implementation.
The success of these measures in creating a more transparent and secure financial system remains to be seen.

The Italian Supreme Court, in its ruling no. 30604 by the Sixth Criminal Section, has clarified a crucial aspect of corporate liability under Decree 231, asserting that confiscation must be included in plea bargaining agreements.
The Court emphasized that confiscation is a principal sanction under Decree 231, distinct from the provisions of the Penal Code.
The ruling addresses three prevailing interpretations regarding the necessity of including confiscation in plea agreements.
The Court ultimately concluded that all applicable sanctions, including confiscation, must be part of the plea agreement, with the judge responsible for ensuring the appropriateness of the sanction.
This decision aligns with recent procedural reforms, underscoring the non-negotiable nature of mandatory confiscation unless the offense did not yield any profit for the entity.

The EU Right to Repair Directive, effective from July 30, 2024, aims to make the repair of damaged or defective goods easier, faster, and more affordable.
Manufacturers will be required to repair products even after the two-year legal warranty period, at reasonable costs and within reasonable timeframes.
The directive mandates transparency in repair conditions and prices, and by July 31, 2027, a European platform will be established to help consumers find repair services.
While the directive covers mainly household appliances, smartphones, and tablets, it may expand in the future.
However, challenges remain, such as the lack of a cap on repair costs and the availability of spare parts.
The directive's success will depend on how member states implement it and how the market adapts.

The collaboration between Milan's Salone del Mobile and Bloomingdale's in New York marks a significant milestone for Italian design.
The 'Italian Design: from Classic to Contemporary' installation, curated by architect Ferruccio Laviani, will be unveiled on September 4th.
This event is part of Bloomingdale's 'From Italy, With Love' project, running from September 5th to 29th, celebrating Italian culture, luxury, and art.
Italian furniture companies will showcase their contemporary and historical pieces, and the Salone will host cultural events throughout the month.
This initiative is a strategic move to adapt to the post-Covid world, aiming to promote Italian quality and foster international connections.
The roadshow will continue in China and other key cities, highlighting the enduring strength and cultural heritage of Italian design.

On August 14, 2018, Genoa faced a devastating tragedy when the Morandi Bridge collapsed, claiming 43 lives and disrupting the city's infrastructure.
The incident led to the closure of key roads and railways, and the evacuation of hundreds of residents.
The management of the bridge by Autostrade per l’Italia and its subsidiary Spea came under intense scrutiny, resulting in legal proceedings against 59 individuals.
Despite the chaos, Genoa, under the leadership of extraordinary commissioners, embarked on a rapid reconstruction journey.
The new San Giorgio Bridge, designed by Renzo Piano, was completed in record time, symbolizing the city's resilience.
A memorial is set to be inaugurated in 2024 to honor the victims and serve as a public testament to the tragedy.

The Italian olive oil sector, predominantly family-owned, is on the brink of a generational transition that may trigger foreign acquisitions.
Despite being the world's second-largest producer and exporter, Italy lags behind Spain in production volume but excels in product valorization.
The sector's financial health is mixed, with half of the companies in good condition and the other half potentially needing support.
Production has declined due to drought, while prices have surged, affecting consumption.
Italy imports significant quantities of olive oil, mainly from Spain, Greece, and Tunisia, and exports primarily to the U.S., Germany, and Spain.
The Puglia region leads national production, but Spanish mills still outperform in scale.
The industry's future hinges on navigating these challenges and leveraging its strengths in product quality.

The new Transizione 5.0 plan by the Ministry of Enterprises and Made in Italy introduces tax credits to encourage innovation projects that combine digitalization with certified energy savings.
With a budget of over 6 billion euros, funded by the PNRR, the plan aims to support investments in both digital and green transitions.
However, the tight timeline and complex documentation requirements pose significant challenges, particularly for SMEs and southern regions.
The plan also includes incentives for training expenses, aiming to integrate innovation and workforce development.

The Transition 5.0 Plan introduces a new tax credit for investments in Italian production facilities, applicable to resident companies and stable organizations of foreign enterprises.
The legal form and income determination regime are irrelevant, but the investments must be related to production structures located in Italy.
The plan mirrors the previous 4.0 credit, extending eligibility to various entities, including individual enterprises, partnerships, corporations, cooperatives, and non-commercial entities engaged in business activities.
However, it excludes professionals, occasional business activities, and non-resident entities without a stable organization in Italy.

Protom, a Naples-based company specializing in digital transformation and advanced engineering, has entered into a strategic partnership with PerDieci, a diversified holding company led by Alberto Baban.
This collaboration aims to enhance production capabilities in both Italy and the US, share expertise to innovate PerDieci's product lines, and invest jointly in US production sites.
The agreement involves mutual minority stakes and the integration of PerDieci into Protom's Smart Manufacturing network.
This partnership is expected to accelerate growth and competitiveness, particularly in the American market, leveraging artificial intelligence and engineering services.
Protom, with a projected revenue of 30 million euros in 2024, and PerDieci, with a revenue of 60 million euros, are set to benefit significantly from this collaboration.

The Salice Group, a historic company specializing in hinges and furniture accessories, has recently acquired Aitm, a small but robust company known for its 100% aluminum hardware solutions.
This acquisition is part of Salice's ambitious growth plan, which aims to double its revenue within 5-6 years through both organic growth and strategic acquisitions.
The move will diversify Salice's product offerings and strengthen its market position.
The acquisition also highlights the importance of functional hardware in the furniture industry, a sector that, despite its low added value, plays a critical role in the market positioning of furniture products.
The global market for furniture components is highly fragmented, necessitating consolidation to maintain competitiveness and foster international growth.

Azzurra Capital has acquired a majority stake in Marval, a leading company in precision mechanical processing for construction and earth-moving machinery engines, as well as automotive engines.
This acquisition involves Azzurra Capital taking over the shares held by Stark Two, which is controlled by Fondo Italiano d’Investimento and other co-investors.
Despite the change in ownership, the current management team will continue to lead Marval, retaining a minority stake.
Founded in 1950 by the Marchiando family and headquartered in Castellamonte, Italy, Marval employs around 600 people and operates six production facilities across Italy, China, and the UK. The company projects a revenue of 160 million euros and an EBITDA of 36 million euros for 2024.

The Galliani Group, a Bologna-based company specializing in silver, copper, and aluminum processing, has made its first significant acquisition by purchasing the Franco-English company Thessco Sas.
This move aims to enhance their market leadership in Europe for brazing alloys and industrial silver products.
The acquisition will bring added value and innovation to the economically fragile Apennine region, where Galliani has operated for over 120 years.
The strategic shift from semi-finished metal production to applied products and distribution marks a new chapter of rapid expansion and internationalization for the family-owned business.

Haiki+, a leading player in the recycling industry, has announced a significant investment of €30 million in recycling plants by 2026.
Following its decision to go public on the Egm segment in 2025 through a proportional demerger from its parent company Innovatec, Haiki+ is set to expand its recycling capabilities.
The company has already inaugurated a €5 million plant in Lazzate and is on the verge of launching a gypsum recycling facility in Lodi.
Additionally, Haiki+ has acquired and is upgrading a plant in Isacco, with plans to operationalize it by late 2025.
The company is also focusing on specialized end-of-waste plants, including projects for textile waste and mattress recycling, supported by Pnrr funds.
Haiki+ is tackling the electronic waste and battery recycling sectors and pioneering landfill mining.
With a workforce of 400 employees, the company reported a revenue of €165 million in 2023 and aims to reach €229 million by the end of 2024.

Vitas, a Vicenza-based company specializing in the production of Gate, Globe, and Check valves for the Oil & Gas and Power sectors, has achieved a remarkable milestone with a record order intake of 15 million euros in the first seven months of the year, including 8 million euros in July alone.
Founded in 1965 and part of the Valvitalia Group since 2002, Vitas has seen significant growth driven by international markets.
Notable orders from Chile, Saudi Arabia, and Norway have contributed to this success.
The company's strategic positioning and ability to tackle complex challenges have been pivotal in its expansion.
Valvitalia, the parent company, has also reported impressive financial results for 2023, with revenues of 181 million euros and a profit of 69 million euros, marking a significant turnaround from the previous year.

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The E1 Series World Championship, a pioneering event in electric powerboat racing, is making waves with its innovative technology and significant economic impact.
Spearheaded by Italian engineer Rodi Basso, the championship has attracted investments from high-profile celebrities and aims for substantial profits by 2025.
The event highlights the growing importance of sustainable maritime mobility and the potential for long-term revenue through various channels.