Simplified procedures for economic operators

Delegated Decree no. 138 of 31 October 2018 has introduced rules aimed at simplifying the presentation of financial statements by economic operators. The Decree, which will enter into force on 1 January 2019, provides that financial statements must be presented at the Office for Economic Activities (now still the Office for Industry, Crafts and Commerce) according to the standardised electronic format XBRL.

In addition, financial statements must remain deposited, during the 20 days preceding the shareholders' meeting called for the approval, at the registered office and no longer at the aforementioned office, to which financial statements must be sent, in the format described above, within 30 days of approval by the meeting.

The Office for Economic Activities will then forward the financial statements to the Tax Office and to the Economic Development Agency - Chamber of Commerce.

The Decree establishes, on the one hand, the elimination of the paper system for all requirements related to the filing of the financial statements; on the other hand, it eliminates the obligation for the economic operator to send the financial statements several times and in different formats to several offices and bodies.
The measure adopted is part of the project towards a fully digital Public Administration, to which the Government is strongly committed.
The Decree could be amended by Parliament upon its ratification.
We will keep you updated on any changes.