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Italian to English: Transfer Pricing Detailed field: Accounting
Source text - Italian Con la presente Vi presentiamo una sintesi della nuova normativa fiscale in materia di “transfer pricing”.
La normativa italiana vigente prevede che le transazioni commerciali (beni ceduti/acquistati e servizi prestati/ricevuti) con società non residenti in Italia ma appartenenti al medesimo gruppo vadano valutate al “valore normale” al fine di evitare arbitrari trasferimenti di imponibile fiscale da un Paese all’altro.
Una recente disposizione normativa ( L. 182/2010) ha previsto la disapplicazione delle sanzioni per “infedele dichiarazione” per ogni società in grado di consegnare all’Amministrazione Finanziaria i documenti idonei a consentire il riscontro della conformità al “valore normale” dei prezzi di trasferimento praticati.
Il 29.09.2010 è stato emanato il provvedimento attuativo che da un lato precisa i contenuti della documentazione da produrre per evitare le sanzioni e dall’altra indica i tempi ed i modi di costruzione, comunicazione e consegna dei documenti.
Translation - English We would like to give you a brief outline of the new tax law provisions concerning transfer pricing.
The Italian provisions of law currently in force set forth that commercial transactions (sold/purchased goods and provided/received services) between companies not residing in Italy but belonging to the same group must be valued at their “normal value” in order to avoid arbitrary transfers of taxable income from one Country to the other.
A recent provision of law (Law no.182/2010) establishes that fines due to “unfaithful declarations” made by companies able to hand over to the Italian Tax Authorities the necessary documentation which allows proving conformity of their transfer prices to “normal values” will not be applied.
The implementation provision was issued on 29/9/2010. It both details the content of the documentation to be shown in order to avoid fines and gives indications as to the timing and method by which the documents must be prepared, communicated and handed over.
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Years of experience: 36. Registered at ProZ.com: Jun 2009.
Keywords: audit, tax, business, transfer pricing, law, industrial, balance sheet, profit and loss account, contract, agreement. See more.audit, tax, business, transfer pricing, law, industrial, balance sheet, profit and loss account, contract, agreement, insurance. See less.
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