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Leasing Fees deductible if the lease is non-existent Italian

The basic function of the operation of financial leasing is a loan for the acquisition in the enjoyment of property by a user. So, if the property is missing or was never delivered, the leasing agreement can not be considered made, and service charges, accused of costs for the year, they become non-deductible. This was established by the Supreme Court Judgement No 23,230 last October 27 by extending the field of direct taxation the principle repeatedly in various decisions (Case 5038/1999, 9665/2000, 7498/2001, 12549/2001, 14710/2001, 15379/2002) on eligibility Tax deductions in the case of the absence of delivery. In particular, the sentence no 15379/2002 lend itself to an analog extension, while referring to a different setting, when it reads "... no acknowledgment of the contractual claim, because of the close interdependence of the purchase agreement and the assignment in the enjoyment of movable property, excludes the implementation of the lease (whichever is the subjective state of the contracting parties) and the ability to deduct the sum that the invoice issued by the person who appears as a supplier, stating that VAT charged by way of revenge .. "and continues that" ... it is not permitted to deduct VAT from the purchaser, upon proof that the item purchased is not never been given to the user .. "E 'then consolidated the' orientation according to which the leasing operation can be considered carried out only with the actual delivery of the goods, and that this may generate only the ends of the grantor the right to deduct VAT by way of revenge. Given this, we can see how the ruling object in our commentary engages in a kind of transmigration of these principles in the field of direct, non-deductible, making the lease payments charged by the lessee between the costs for the year when it is found that the good is non-existent (in this case the dealer had never exercised any activity) and, as such, certainly can not be left in enjoyment to the user. Consequently, ".. the delivery never happened spoils the fundamental cause of atypical preventing the substance of the implementation of the leasing operation .. ". For judges in fact ".. the basic function of the operation of financial leasing is a loan for the acquisition in the enjoyment of property by a user" and ".. where there are the existence or the delivery of good such objective data also do not depend on the particular conduct of the parties, the leasing operation does not perform its basic function, which is the loan for the acquisition in the enjoyment of that item by the user, and disbursement of the grantor results in a sort of funding for the person who appears as a seller of the property, but in reality he never had or has never lost the availability .. ". That's why the absence of good or non-delivery of the same, the operation of the lease is invalid to relatively 'indirect taxation - resulting in a non-deductibility of VAT - both in the field of direct taxation - resulting in the inevitable non-deductibility fees. Also of note the wording of the Judgement of engraved final step in which the judges of the Supreme Court stressed that ".... The operation should be considered fictitious non-existence of well .. ". Words chosen at random and certainly not that make it possible to apply in cases similar to that in the middle of the sentence in question, the discipline of crime with respect to taxes on income and value added, resulting in the same discipline and the same consequences for the use of invoices or other documents for nonexistent transactions.

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TENANCIES SUBJECT TO VAT

The DL 04/07/2006 n. 223 (so-called Bersani Decree), converted into Law 04/08/2006 No 248, has radically altered the system of taxation for the leases of residential buildings and equipment, which have commercial enterprises as part of the lessor.

remember that this scheme provides:
a) Tax exemption for the letting of residential property;
b) Tax exemption on all equipment leases, except those where the landlord opts for the imposition of VAT as well? those made in respect of VAT or non-pro rata Iva less than 25%;
c) registration requirement for all contracts, even if the VAT assessment, with application of the registration fee of 1% for equipment leases.

The decree also refers to yet another piece of legislation (to be issued no later than 09/15/2006) regarding their practice. The decree? entered into force on 09.21.2006 and provides as follows:

1) Registration of contracts outstanding at July 4, 2006
Leases subject to VAT at the date of 07.04.2006, should be recorded electronically in a 1 to 30 November 2006. It 'requires the transmission of data of the contract and not the allegation. With this transmission electronically? can exercise the option to imponibilit? VAT exemption for commercial leases which relate to real property instruments.

2) Payment of stamp duty on that occasion
DOVR? be paid the stamp duty payable on the amount determined for the entire remaining term of the contract, from July 4, 2006, and can? be paid in a lump sum (with reduction) or on the amount each year on each annual installments? which has a maturity date after the same date.

3) Other entities
For individuals who are not acting in the course of business, art or profession, nothing changes than before and therefore will benefit from the direct registration with the Inland Revenue.

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LATE PAYMENT ALLOWANCES

Did you know that the Central Alarm Interbank (CAI) excludes from the system of payments for six months, those who have issued checks without authorization or without funds.

The next payment (called the late payment) only the amount of the title is not 'sufficient to prevent the inclusion in CAI and other consequences of sanctions. The penalty

enrollment in CAI can only be avoided by trying to have paid, in favor of creditors, including the additional charges laid, and that means' a penalty equal to 10% of the amount of unpaid, interest and costs, if any.