Circular no. 5/2014 - The "Competitiveness" Decree

The "Competitiveness" Decree

The DL n. 91 of 24 June 2014, converted by law no. 116 of 11 August 2014 (“Competitiveness Decree”), contains, among other things, urgent provisions for the relaunch and development of businesses and the containment of costs affecting electricity tariffs.

The purpose of this work is to provide a first schematic picture of the legislative innovations that have taken place.

The work is divided into three parts. The first part concerns the innovations in terms of subsidies for businesses; the second and the third relate respectively to news regarding listed Spa and Company Law.

Index

1. Tax credit for new investments in new plant and machinery (Article 18)
   1. Facilitated access to the SME guarantee fund - art. 18 co. 9 –bis
2. Amendments to the ACE regulations (art.19)
3. The incentive tariffs relating to electricity produced by photovoltaic systems (Article 26)
   1. New method of disbursement of incentive rates
   2. Sale of a share of incentives for the production of electricity
4. Facilitation measures for business credit (articles 21 - 22)
5. News regarding listed companies (art.20)
   1. SMEs with listed shares
   2. Shares with increased voting rights
   3. Totalitarian takeover bid
   4. Mutual holdings
   5. Liquidation value of the shares in the event of withdrawal
6. News in the field of company law
   1. Reduction of the minimum share capital in the spa
   2. Controls in srl and cooperatives
   3. Transactions without a sworn appraisal report
   4. Right of option
   5. Multiple voting shares
7. Application of the international accounting standards IAS / IFRS
8. Pre-deductibility of credits in the blank arrangement with creditors

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