Insights

With Circular no. 5/2010, INPS explained the conditions required for recognition of the financial incentive introduced by art. 7-ter of Italian Law 33/09.

Effective 1 April 2010 the "Unique Notification for the establishment of enterprise" is mandatory. It was introduced by art. 9 of Law no. 40/07 and must be used for all fulfilments on the Company Register, Tax Agency, INPS (Social Security Admin.) and INAIL (National Insurance against Injuries at Work) for the start up of companies.

Case law intepretation focuses on administrative liability of legal entities.

In the opinion of the Supervisory Authorities Members Association (Associazione dei componenti degli Organismi di Vigilanza - AODV), the Supervisory Authority (set forth under the Legislative Decree 231/01 regulating the administrative liability of the companies) should be set up as a collegial board, consisting of representatives with specific reputation requirements and open to the participation of internal professional figures.

The Italian Senate has definitively approved the so called “work related act” to the financial law.