Two significant developments were made this month to the Italian cooperative compliance regime (adempimento collaborativo), which first went into effect in Italy in 2016 (legislative decree n. 128 of August 5, 2015).
The regime aimed to replace the antagonistic relationship between taxpayers and tax administration officials with a dialogue based on mutual trust and transparency. The admission to the cooperative compliance regime entitles the taxpayer to prevent tax audits and to agree in advance with the Italian Revenue Agency regarding the tax treatment of specific uncertain transactions. In addition, it is a procedure aimed at managing tax risks inside business processes. For this reason, many multinational groups have already requested and received admittance into the regime.
Source MNETax
