International Tax Focus - June 2023

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International Tax Focus June 2023

ITF monthly_update_june_2023.pdf

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ITALIAN LEGISLATION AND CASE LAW

1. The Italian Parliament approves the new Agreement with Switzerland on frontier workers 2

2. Penalties on the monitoring regime for foreign assets 2

3. VAT treatment of transactions between permanent establishment and head office 2

4. Italian VAT split payment mechanism extended by the EU 2

5. Beneficial ownership requirement and Interest & Royalties Directive 3

6. Tax treatment of directors’ pass-through payments 3

7. Updated the list of the Country exchanging bank account’s data 3

8. Requirements to continue operating under the transitional regime of custom warehousing 3

9. Exemption from penalty regime despite absence of US Tax Code in FATCA report 4

EU LEGISLATION AND CASE LAW

10. Tax transparency rules for crypto-assets 4

11. Agreement at EU level on the DAC 8 general approach 4

DTT/MLI/OECD

12. Vietnam deposits its instrument for the ratification of the Multilateral BEPS Convention 4

GLOSSARY