Italy is set to hold companies liable for fraud committed by individuals that involves value-added tax evasion of 10 million euros ($11.3 million) or more.
The Council of Ministers on Tuesday expanded company liability to include the crimes of fraudulent tax declaration, omission of declaration, and unlawful compensation on the part of individuals. The measures are part of a decree implementing E.U. Directive 2017/1371, which governs criminal sanctions for fighting financial fraud.
- The provisions will take effect as soon as the decree is published in the Official Gazette, but the law can still be amended by Parliament. ...
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