TAX AUTHORITY: TERMINATION INDEMNITY OF THE AGENCY RELATIONSHIP IN COMPLIANCE WITH EU REQUIREMENTS (IL SOLE 24 ORE, APRIL 26, 2014, PAGE 14.)

The Tax Authority gave the green light to deducing the accrual of the termination indemnity of the agency relationship, in all its figures (such as the termination indemnity so called Firr, the customer supplementary indemnity and the merit-based indemnity). The Authority stated that it is necessary identifying the methods of calculation and the conditions to be able to make a reasonable provision in the budget (note no. 33/E/2013). Firstly, it should be noted that the rules of the termination indemnity, so called UE indemnity, provided by article 1751 of the Italian Civil Code implementing article 17 of Directive 653/86/Cee, must be applied. It must be also considered that this rule may be replaced if more favorable by the contract between the parties and/or by economic collective agreements (“ECA”) so any amounts greater than those provided by the aforementioned UE indemnity may therefore be set aside.