Tax monitoring obligations for foreign insurance companies operating in Italy, IVASS regulations and recent clarifications by the Revenue Agency

The link to access the webinar on the Zoom platform will be sent 24 hours before the event.

On 13 November 2023, the Italian Tax Authorities issued Resolution No. 62. The resolution clarifies tax monitoring obligations pursuant to Article 1 of Decree-Law No. 167/1990 for foreign insurance companies operating in Italy without a branch in relation to life insurance contracts for Italian policyholders. The clarifications are in response to a request raised by ANIA, the Insurance Trade Association in Italy.

The position of the Italian Tax Authorities gives the opportunity to analyse risks, responsibilities and opportunities for insurance companies doing business in Italy without a branch, also with respect to the AML requirements of IVASS.

DLA Piper's Insurance team will discuss in the webinar: "Tax monitoring obligations for foreign insurance companies operating in Italy, IVASS regulations and recent clarifications by the Revenue Agency: obligations, risks and responsibilities."

Agenda

Greetings and introduction
Antonio Longo – Partner, DLA Piper
Chiara Cimarelli – Partner, DLA Piper

The practical impact of the new Revenue Agency guidance on insurance companies' tax monitoring obligations: unresolved issues, penalties and remedies
Antonio Longo – Partner, DLA Piper
Angela Dulcetti – Lawyer, DLA Piper

Insurance undertakings' obligations in the AML environment: IVASS Regulation 44/19 and Provision 111/21 confronted with the recent views of the Italian Tax Authorities
Chiara Cimarelli – Partner, DLA Piper

The unavoidable link between the tax monitoring obligations on intermediaries and those on taxpayers: a critical analysis of the potential side effects triggered by “insurance undertakings established without a branch”
Nicola Alvaro – Chief Legal & Wealth Structuring Officer, Generali Luxembourg S.A.

Q&A and conclusions

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