Highways, taking hikes – TGCOM

17:17 – With 1 January triggered increases in tolls on different stretches. To apply the finishing touches will be six out of 27 companies: the rise more interested in the Turin-Milan with a + 6.5%, followed by the Parks Highway to + 3.45%, Freeway East Spa at + 2.10%, Autostrade Italy to + 1.09%, Pedemontana Lombarda to + 1% and + 0.03% in Ativa. The Ministry of Infrastructure stated that the average increase amounted to 0.86%.

fee and taxes, what changes in 2016 embed the video

The price increases were then confirmed by the ministry and are as follows:

 Asti-Cuneo 0.00% 0.03 ATIVA % Autostrade for Italy 1.09% 0.00% Autovie Brenner motorway Brescia-Padova Veneto 0.00% 0.00% 0.00% Sicilian Consortium Highways CAV Center Padane 0.00% 0.00% of Autocamionale Cisa 0.00% 0.00% Autostrada dei Fiori Milan Serravalle Milan Tangential 0.00% 0.00% RAV Naples bypass SALT 0.00% 0.00% 0.00% SAT Southern Highways (SAM) 0.00 SATAP A4 Trunk% 6.50% 0.00% SATAP A21 SAV SITAF 0.00% 0.00% 0.00% Turin-Savona Route Parks 3.45% Bre.Be.Mi. TEEM 0.00% 2.10% 1.00% Pedemontana Lombarda 

Also the ministry specified that “this year for all the motorway companies for which it is being updated its Business Plan, tariff increases have been provisionally suspended, posticipandone its adaptation, the approval of plans. ”

Aiscat protest – The Aiscat, which brings together the motorway concession, issued about this note: “Once again recognized the commitment of the Italian motorway sector is not matched by a similar commitment from the Government which it granted the changes referred contrattualmentesolo 6 companies on 27 “. The statement noted that “the majority of the financial plans of the motorway companies expired between 2012 and 2013, there have as yet not approved by the relevant ministries despite being presented promptly by dealers and although there are specific instructions issued by the CIPE timing relative “.

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Highways

Ministry of Infrastructure

2015 to be framed for Piazza Affari, Queen of the World Bags – Wall Street Italian

NEW YORK (WSI) – One year, 2015, to remember for the Italian stock market. With a rise in the FTSE MIB 13.23% Milan stands in second place in the ranking of world markets which recorded growth more ‘high, after Shenzhen (+ 66.15%), however drugged the measures undertaken by the government of Beijing to the bursting of the bubble in China.

For the Milan Stock Exchange is a also higher than that of Frankfurt (+ 9.56%) and Paris (+ 9.46% ). Coplessivamente growth of Business and pizza ‘was above the European average (Euro Stoxx + 4.5%) and well above Wall Street (Dow Jones -0.86%) and the Nasdaq ( +7.44%).

Even better did the other indices Square Business: FTSE All Share + 15.8% +39.5% and Star. Increasing the capitalization: last year the Milan stock was worth 29% of GDP, but this year rose to 34.8%, with a market capitalization of 567.6 billion euro, an increase of 17.6% compared to the end of 2014.

Bright still the trade which reached a daily average of 3.2 billion euro. Altogether in 2015 we were traded over 801.7 billion Euros. Intesa Sanpaolo was the most traded share in terms of turnover (95.2 billion), Unicredit has excelled rather in terms of contracts (3.9 million).

As for the individual titles, Queen among blue chips was Italcementi (+ 107.49% since last December 31), followed by a Life Holding (+ 92,60%) and Yoox-Net-a-Porter (+87, 77%), while MPS (-35.58%) was the worst, preceded by Saipem (-14.55%) and Tenaris (-12.20%).

But it does not end here. On a positive note, and ‘it came from the new placements with 356 companies listed on the Italian Stock Exchange: 282 on the main market MTA (of which 71 are Star) and 74 on AIM. New admissions were 32 (there were 26 in 2014) including 27 IPOs (18 out of Aim).

Among the freshmen, that have collected in total over 5.7 billion the euro, the Italian Post Office, more IPOs in the last 10 years with more than 3 billion of capital raised, played the lion’s share.

Sixteen instead the now withdrawn , including names prominent as Pirelli, leaving the scene on November 6, Ti Media, out October 1 and Mediolanum, which has actually passed the baton to Banca Mediolanum, following the merger.

Tomorrow increase motorway tolls, on average + 0.86% – AGI – Agenzia Journalistic Italy

         31/12/2015 14:33

Rome – Travelling on the highway from tomorrow will be ‘more’ expensive. They enter into force the adjustment to toll rates with an average increase of 0.86%. On the Autostrade network for Italy, the increase will ‘of 1.09%. According to reports from a note, “were signed, in fact, the Decrees of agreement between the Ministry of Infrastructure and Transport and the Minister of Economy and Finance.” “This year, in particular, for all the Society ‘for which and’ being updated its Business Plan – continues – fare increases have been provisionally suspended, posticipandone on its adaptation to the approval of the above piani.L’aumento average currently recognized, calculated on vehicles-km routes which are expected to be the entire motorway network in 2016, it amounted to 0.86%. “
In detail, the Decrees have recognized the following adjustments:

Asti-Cuneo SpA 0.00%;

ATIVA S.p.A. 0.03%;

Brennerautobahn S.p.A. 0.00%;

Autovie Venetian S.p.A. 0.00%;

Brescia-Padova S.p.A. 0.00%;

Consortium Highways Sicilian 0.00%;

CAV SpA 0.00%;

Center Padane S.p.A. 0.00%;

della Cisa S.p.A. 0.00%;

Autostrada dei Fiori S.p.A. 0.00%;

Milano Serravalle Milano SpA Tangenziali 0.00%;

Naples bypass S.p.A. 0.00%;

RAV S.p.A. 0.00%;

SALT S.p.A. 0.00%;

SAT S.p.A. 0.00%;

Southern Highways (SAM) SpA 0.00%;

SATAP A4 Section S.p.A. 6.50%;

SATAP A21 S.p.A. 0.00%;

SAV S.p.A. 0.00%;

SITAF S.p.A. 0.00%;

Torino – Savona S.p.A. 0.00%;

Trail Parks S.p.A. 3.45%;

BRE.BE.MI. 0.00%, 2.10% TEEM

Pedemontana Lombarda
1.00%.

Tomorrow increase motorway tolls, on average + 0.86% – The Republic

Rome, Dec. 31 – Travelling on the highway from tomorrow will be ‘more’ expensive. They enter into force the adjustment to toll rates with an average increase of 0.86%. On the Autostrade network for Italy, the increase will ‘of 1.09%. According to reports from a note, ‘were signed, in fact, the Decrees of agreement between the Ministry of Infrastructure and Transport and the Minister of Economy and Finance’. ‘This year, in particular, for all the Society’ for which and ‘being updated its Business Plan – continues – fare increases have been provisionally suspended, posticipandone on its adaptation to the approval of the above piani.L’aumento average currently recognized, calculated on vehicles-km routes which are expected to be the entire motorway network in 2016, it amounted to 0.86% ‘. In detail, the Decrees have recognized the following adjustments: Asti-Cuneo SpA 0.00%; ATIVA S.p.A. 0.03%; Brenner motorway S.p.A. 0.00%; Autovie Venetian S.p.A. 0.00%; Brescia-Padova S.p.A. 0.00%; Autostrade consortium Sicilian 0.00%; CAV S.p.A. 0.00%; Center Padane S.p.A. 0.00%; Della Cisa S.p.A. 0.00%; Autostrada dei Fiori S.p.A. 0.00%; Milano Serravalle Milano Tangenziali S.p.A. 0.00%; Napoli bypass S.p.A. 0.00%; RAV S.p.A. 0.00%; SALT S.p.A. 0.00%; SAT S.p.A. 0.00%; Southern Highways (SAM) S.p.A. 0.00%; SATAP A4 Section S.p.A. 6.50%; SATAP A21 S.p.A. 0.00%; SAV S.p.A. 0.00%; SITAF S.p.A. 0.00%; Turin – Savona S.p.A. 0.00%; Route Parks S.p.A. 3.45%; Bre.Be.Mi. 0.00%, 2.10% and TEEM Pedemontana Lombarda 1.00%.

( 31 December 2015 )

Other news

Apple after the IRS puts Google in the crosshairs: hypothesis evasion Billion – The Messenger

The Italian tax on multinationals tightens the web. There is only the dossier Apple, which yesterday concluded the dispute with the Inland Revenue pulling a check for 318 million euro to the exchequer. On the table of the Milan prosecutor’s office there are four areas of inquiry opened against the same number of companies with accounting abroad – especially in countries from the fiscal benefits such as Ireland – the profits made on the Italian market. Are Google, Amazon, Facebook, and Western Digital, the group US hard drive manufacturer.

ESTEROVESTIZIONI
 Topping the list of the giants of the network finished in the crosshairs of magistrates in Milan there is Google, led by Sundar Pichai. The investigation against persons unknown, concerns an alleged tax evasion by a maxi billion euro that the multinational Californian would have made by not paying taxes in Italy related to advertising contracts with local customers. As in the case of Apple, the Inland Revenue is negotiating with the leaders of the Italian group to reach an agreement the figure around which they try to close the litigation is about 150 million euro. Palazzo Chigi remember that just recently there was a meeting between Matteo Renzi and the head of Apple, Tim Cook, to find an agreement. The agreement is close to signing, while the big American research network is also facing both formal procedures opened by the EU.

Enquiry just closed again in Milan for Western Digital, in the middle of a case of hypothesized esterovestizione: fictitious location abroad of tax residence and the heart of the activity is in Italy. Still in the early stages of the investigation instead of Amazon and Facebook: the e-commerce giant has opened a file still no suspects nor offense, while the activities of the Italian social Zuckerberg is under investigation of the financial police . The agreement with Apple Italy, in proceedings for alleged tax evasion for 879 million euro, could do to “tread” towards resolving tax disputes with other groups from the web.

“It is an international precedent that could open the way for the regularization of relations between Italy and the multinationals’ industry, explain sources of the Prosecutor. It ‘the first time that the company founded by Steve Jobs closes a tax dispute in one of the countries where we operate by paying a maxi-compensation. Fixed trouble with the tax authorities, however, remains the criminal case against three managers: the CEO of Apple Italy Enzo Biagini, the financial director Mauro Cardaio and the manager of the Irish Apple Sales International, Michael Thomas O’Sullivan accused of non declaration.
 

 12/31/2015 03:42:01

 © ALL RIGHTS RESERVED
 

 
 

BECOME A FAN OF THE MESSENGER

Tax authorities, after Apple’s up to Google: get check from 150 million. Amazon in the viewfinder – The Republic

MILAN – If you come all the money that the Milan prosecutors hopes, you could almost speak of a budget adjustment. But the situation at present is only hypothetical. After the 318 million euro – these safe and cashed as announced yesterday by Republic – that the Cupertino giant Apple, has paid to the Revenue Office two days ago to close a litigation IRES processed from 880 million in the sights of the department on economic crimes of Milan, now end up other software giants. Starting from Google and another investigation coordinated by the deputy prosecutor Francesco Greek and entrusted this time to the prosecutor Isidoro Palma. Unless last-minute surprises, the long game that you are playing for almost a year between the two parties, could be completed by the end of January, with a “booty” finish that would be around – if accordo- , around 150 million euro. None of the parties at the time, intended to anticipate the success of the negotiation.

Unlike the company that manufactures the iPad and iPhone that has accepted in full the figures that emerged from reports drawn dall’Entrate and not contesting the final figure, with Google the parties would still far apart on the final sum to be paid, however, very different from what you shelled out two days ago by the company founded by Steve Jobs. Again, the prosecutors in Milan allege that the Italian branch of the search engine in California, that he had placed on a foreign company, to pay less tax in Italy. The total amount on which managers are alleged to have evaded taxes in this case rises to a billion euro total.

In the outcome of negotiations with the Treasury, yesterday the Financial Times has raised the possibility of a role had also the prime minister, Matteo Renzi. The head of Apple, Tim Cook, last November, after a lecture at Bocconi University, met the Prime Minister at a lunch in a famous restaurant in Milan. In this condition – according to their advances raise yesterday by the British newspaper – Renzi would have chased Cook asking to close the fiscal slope of its subsidiary in Italy.

An earlier not just to Apple, saw their disputes that other EU countries have with the Cupertino giant. In the agreement it signed 48 hours ago and already executive – the staggering figure is actually available in the Treasury – the multinational definitively regulates the position in Italy and Ireland, thus avoiding any future disputes. It is not excluded, that on the Italian example, shut down the other slope.

The case Apple could be a disincentive for other corporations that, right through the “esterovestizioni” of their company, rely on tax havens or even on countries with a more advantageous taxation than in Italy. It ‘just arrived in the prosecution report Revenue, regarding Amazon – giant e-commerce – at the time against unknown and no offense and involving Western Digital, another company specializing in stars and stripes hard disk. But on the desks of prosecutors of the department on financial crimes, they remain standing even major investigations, with the possibility of tax fraud as pivotal. And ‘the case of the insurance policies of Credit Suisse, with hundreds of customers – this is the suspicion of the Milan prosecutors that does not involve, however, officials of the institute – which through a ploy purely formal, they moved into the coffers overseas, hundreds of thousands of euro. Another delicate issue, which in this case works or even the Bank of Italy, that could end again with six-figure compensation.

The success of the negotiations with Apple, to tell the truth is not an isolated case. At the end of 2014, it had been the Prada group to close a tax dispute with the Milan prosecutors, pouring the Exchequer more than 450 million Euros. Exactly – like Apple – the challenge to the verification activities. A Maurizio Bertelli and Miuccia Prada, the top of the label, is challenged in this case a esterovestizione in Holland, the “Prada Holding”. And if the criminal investigation is still pending, the administrative litigation has ended, not only with the immediate refund, but also with the return in Italy of the official seat of the Milan fashion house.

The prosecutor’s office Milan, officially, does not comment on the financial results obtained with transactions already defined with the Revenue. Although the fourth floor of the courthouse is stressed “the important signal” represented by the conclusion of the tax dispute with Apple.

Finally, on the political front, the end of the chapter Apple, rejoices the President of the Commission House Budget, Francesco Boccia (Pd). “The financial haemorrhage related tax evasion and avoidance of multinational web – commented the news Petanque – has reached very high levels and in October, albeit still resulting in isolated cases, have started to realize that the taxes you have to pay ; and it must be done in the countries in which they profit. ” Boccia, concludes by calling “wise” decision to find an agreement with the IRS by the US giant.

Milan with – 1.12% today closed 2015 at + 12.7% – Il Sole 24 Ore

History Article

Close

This article was published on Dec. 30, 2015 at 8:56.
The last change is the December 30, 2015 at 22:30.

It closed down the last trading day of the Milan Stock Exchange in 2015. The FTSE Mib marks a decline of 1.12% to 21,418 points, the All Share -0.93%. Day overall negative list for Milan, who did worse than other European exchanges, even declining, affected by the latest accommodation positions and by lower commodity prices.

They also weighed the statements of the Director of the IMF, Christine Lagarde, that in 2016 the world economic growth will be ‘disappointing. Retreating banking stocks and energy, also negative Fiat Chrysler.

Closes loss in the stock market Wall Street. The Dow Jones sells 0.66% to 17,603.53 points. The Nasdaq lost 0.82% to 5065.85 points

The budget of 2015
It is a rise of 12.7%, the overall budget the FTSE Mib index of the Milan Stock Exchange in 2015. The final figures at the end of the last session of the year then indicate a growth of 15.4% for the FTSE All Share: performance that put the Milanese listing in first place among the main European stock exchanges .

Frankfurt, the best after the Milan Stock Exchange, in fact stops at + 9.56%, followed by Paris (+ 9.46%) and Amsterdam (+ 5.12%). Red instead Madrid (-6.2%) and London (-4.5%), although the black jersey is up to Athens, after a year living high voltage: the Greek stock market closed 2015 with a decrease of 26%.

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Bond News: Euromacro – Reuters

          

Interesting macroeconomic figures published in the day.

In the UK, the National Index of Prices of Dwellings (Nationwide Housing Price Index), which measures the monthly change in the average price for a house with a mortgage loan in December recorded a up 0.8% from the previous month, against expectations of + 0.5%. The figure ‘higher than the recognition of November + 0.1%. On an annual basis the index and ‘certificate to a value of + 4.5%, resulting in higher than both the previous data that the consensus, set at + 3.7% and + 3.8% y / y.

In Spain, the statistical office INE announced that the preliminary estimate of inflation (consumer price index harmonized HICP) in December showed no change from -0.3% of the survey previous. Expectations were for a 0.1% growth on an annual basis.

To the ECB’s M3 money supply in November showed a 5.1% increase year on year, lower than expected and the previous survey fixed respectively on an index of 5.4% and 5.3%. The private loans have grown by 1.4% (consensus + 1.3%).

According to what reported by Istat, in the month of November 2015, the index of producer prices industrial products decreased by 0.5% from the previous month and by 3.3% against November 2014.I prices of products sold on the domestic market decreased by 0.6% compared to October and by 4.2% on a trend basis . Excluding the energy sector are recorded decreases of 0.3% in quarterly terms and 0.5% on the basis tendenziale.I prices of goods sold in foreign markets mark no change on the previous month (with an increase of 0.1 % for the euro area and negative 0.1% for the non-euro). In trend terms there was a decrease of 0.6% (-1.2% for the euro area and -0.5% for the non-euro area) .The largest contribution to the fall in the prices of goods sold on the market interior comes from the energy sector (-3.9 percentage points). On the foreign market broader contributions to the reduction resulting from the energy sector for both the euro area and for the non-euro (-0.8 percentage points for both). The sector of economic activity for which detects the downward trend in prices is more pronounced than the manufacture of coke and refined petroleum products, with decreases of 16.0% in the domestic market and 22.4% on the foreign market.

Auctions in Italy:
– The Treasury has placed bonds for a total of 6 billion Euros, in detail have been assigned BTP maturing in November 2020 (ISIN IT0005142143) to 2.250 billion euro . The yield stood at 0.57%, up 20 basis points from the auction in late November and bid to cover 1.36. They were also awarded 2,250 billion euro in December 2025 BTP (ISIN IT0005127086). The average yield stood al’1,59%, up 23 basis points from the auction earlier. Demand exceeded supply by 1.34 times. Were finally allocated 1,500 billion euro in December 2022 CCTeu (ISIN IT0005137614) to 0.42%, down 9 basis points from the auction and previous coverage ratio equal to 1.55.

They return to grow overnight deposits at the ECB. The latest daily survey indicates that amounted to 183.284 billion of euro deposits short of European banks at the European Central Bank, up from 176.02 billion the previous reading. Rising to 228 million euro, from 118 million the previous marginal loans.

Spread BTP / Bund to 100 basis points at the halfway point. The yield on Italian government bonds to 10 years amounted to 1.63%.

Just moved the German government bonds. The Bund future rose to 157.95 points (+ 0.04%) and Bobl futures stood at 130.70 points (+0.05%).

(CC)

Fisco. Apple will fund the abolition of tax on the first house? – Monitorimmobiliare.it

The Italian government is looking for money, but this is not news. The news is that Apple will pay to the Treasury 318 million euro. Finally one of the big industry has bowed to the Italian tax authorities: after having pressed taxpayers weaker now up to those who have always sheltered from taxation. It seems that the Executive has managed to apply the golden rule of Prime Minister Matteo Renzi: “all pay, pay less.” That is the first step to a subsequent reduction to the benefit of citizens who are in the last year growing labor taxes on consumption and on the house (despite the abolition for the next year)?
lawyers of the Cupertino company, writes Republic, have reached an agreement with the Inland Revenue to close a dispute that lasted months to remedy a tax evasion of almost a billion accepting all the exceptions filed by Italian authorities and paying what is required in the assessment reports. According to the mechanism dell’esterovestizione, Apple would have to budget in Ireland as sales in Italy in order to pay less taxes.
parallel moved the Milan judiciary who last spring sent to the CEO of Apple Italy, Enzo Biagini, the finance director, Mauro Cardaio and a number of Apple Sales International (Irish company to which is responsible for all activities EMEA), Michael O’Sullivan, a warrant on charges of “non-declaration of income” from 2008 to 2013 for 880 million euro of IRES processed. For the deputy prosecutor Francesco Greek and the prosecutor Adriano Squires, Apple Italy would “structure detached from the auxiliary activities carried out by the resident company, which plays a real sales activities in the territory on behalf of Apple Sales International.” However for the leaders investigated the agreement with the tax authorities does not erase the procedural position, while relieving it.
Apple is not the only one. In the same situation it would shed another multinational of the same caliber: Google. The Milan prosecutors had challenged the company founded by Larry Page and Sergey Brin a maxievasione the same amount. Again, the Inland Revenue would be dealing with the leaders of the Italian world number one search engine. The figure to close the slope should be around 150 million. The list would also Amazon, the e-commerce giant, which manages the Old Continent through an office in Luxembourg where taxation is more favorable, as in Ireland, and allows you to avoid paying hundreds of millions of euro of taxes.
consequence would giants, who have so far dodged taxes in Italy, to start a new phase in the reduction of taxes. Could it be that such new tax revenues of several Apple, Google, Amazon compensate for lower revenues for the abolition of taxation on first homes. Besides, next year the entrance treasuries lose considerable: with the advance of June and the balance in December between IMU and Tasi Italians have paid into the public coffers a total of EUR 24.8 billion, of which 19 , 8000000000 and 5000000000 for the IMU for Tasi (3.7 billion for the first house).

Apple, reached agreement with the IRS: Cupertino will pay 318 million euro – The Messenger

Apple Italy must pay 318 million euro to the Revenue, in the proceedings with a central alleged tax evasion by a failure to pay statutory tax for a total of about 879 million euro in five years, from 2008 to 2013 . The information technology giant, as reported by the newspaper “La Repubblica”, has in fact reached an agreement with the tax authorities to remedy the tax dispute. Agreement which was confirmed by the Milan prosecutor’s office, which coordinates the investigation against three managers of Apple: the legal representative and chief executive of Apple Italy, Enzo Biagini, the financial director Mauro Cardaio and the manager of the Irish Apple Sales International, Michael Thomas O’Sullivan.

The alleged offense by the prosecutor Francesco Greek and by prosecutor Adriano Squires is omitted declaration under Article 5 of Legislative Decree 74/2000. According to sources of the Prosecutor, it would be a “major achievement”, as it would be the first time in the world that, in similar cases, the Cupertino giant resolve a tax dispute in one of the countries where we operate by paying a maxi-compensation to ‘ tax authorities.

According to sources of the Prosecutor, the agreement could then be a “model for export” in other European countries, also with a view to approval of the rules on the tax treatment in cases of alleged ‘esterovestizionè. Despite the tax dispute is resolved, it remains standing criminal proceedings. The agreement eases, the positions of the three managers. In March, the Greek prosecutor and the prosecutor Squires had closed the investigation against them in view of a possible request for indictment.

According to what emerged from the investigation, conducted by men of direction Lombardy regional of the Customs and Revenue Agency, the profits made by the Italian multinational, in a pattern that would be followed by other giants of hi-tech and the Internet, such as Google (again in Milan is an inquiry), they were recorded by the company based in Ireland, a country where the tax burden is more favorable. The file had been opened two years ago and had also led to a search of the Milan headquarters of Apple and the seizure of computer equipment and telephone.

The agreement also provides for an “international ruling “to determine the amount of tax payable in Italy and Ireland. This is what is learned from sources of the Prosecutor. The ruling handed down, which will be defined in the future and should be valid for the next five years, aims to “harmonize the position of companies operating in multiple states.”

Evasion, agreement between Apple and the Treasury: the company will pay 318 million euro – TGCOM

14:15 – Apple will pay to the Italian State of EUR 318 million. And ‘as specified in the agreement signed between the Cupertino giant and the IRS. The Inland Revenue had accused the company of the iPhone and iPad, to invoice in Ireland, where there is a tax system more convenient, also the sales that occurred in our country. Between 2008 and 2013, Apple would have processed 880 million euro of IRES.

Apple’s “surrender” to the tax authorities will pay 318 million

of Stefania Ferraro

embed the video

The news of the agreement between Apple and Italy was widespread newspaper The Republic and subsequently confirmed by the Milan prosecutor’s office. The number for the company founded by Steve Jobs has agreed to pay would be exactly that required by the Inland Revenue.

According to sources of the Prosecutor, it would be a “major achievement”, as it would be the first time in the world that, in similar cases, the Cupertino giant resolves a tax dispute in one of the countries where we operate by paying a maxi-compensation to the Treasury.

In March the notices of – In March the Milan prosecutor’s office had sent three notices of investigation for many managers because of non-payment of IRES. The involved, ie the legal representative and chief executive of Apple Italy Enzo Biagini, the financial director Mauro Cardaio and the manager of the Irish Apple Sales International, Michael Thomas O’Sullivan, could however the process despite the agreement with the Fisco.L ‘ lightens agreement, the positions of the three managers.

A scheme also followed by Google – As the investigation has shown, the profits made by the Italian multinational, in a pattern that It would be followed by other hi-tech giants such as Google and the internet (again in Milan is an inquiry), were recorded by the company based in Ireland, a country where the tax burden is more favorable. The file had been opened two years ago and had also led to a search of the Milan headquarters of Apple and the seizure of computer equipment and telephone.

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Apple

Revenue

Revenue Agency

IRES

Apple, Revenue Agency confirms agreement on tax dispute – Reuters Italy

MILAN (Reuters) – The Inland Revenue has confirmed that it has reached an agreement with Apple on a tax dispute for alleged tax evasion, but did not provide guidance on the amount of the agreement.

Today Republic writes that Apple will pay to the Treasury 318 million from € to end the dispute over non-payment of IRES from Apple Italy for 879 million euro from 2008 to 2013.

The investigations of the Milan prosecutors had closed in March with two managers of Apple Italy and one of Apple Sales International in Ireland investigated for failing to tax return (Article 5 reads 74/2000).

Apple is not currently accessible to a comment.

On www.reuters.it other news Reuters in Italian. The top news also on www.twitter.com/reuters_italia

© Thomson Reuters 2015 All prior written Reuters.

Apple’s agreement with Revenue Agency: the Italian tax authorities 318 million euro – BBC

close game

Milan , December 30, 2015 – 08:06

     
     
 

Apple will return 318 million euro to the Italian tax authorities: closes an agreement with the ‘open investigation by the Inland Revenue, coordinated by the Milan prosecutor Francesco Greek, which found the huge gap between the actual sales in Italy (over one billion euro in the seven years between 2008 and 2013) and the house of Cupertino its apparent revenue, about 30 million Euros. The agreement, revealed by Republic , comes after a complaint by the Inland Revenue at Apple’s 880 million euro for IRES dealt with in the years between 2008 and 2013.

The double track

The mechanism was simple, and is the same used by Apple in other states: apparently in Italy to operate was the Apple Italy srl, a front company , a simple consultant Irish Apples sales international, replaced in 2012 by Apple international distribution. On paper, Italy Apple would have to play only advisory, and in fact were recognized revenues of the costs structure, and nothing more. In seven years, we speak of just 30 million euro compared to one billion profits, which ended up in Ireland, where Apple was paying very low rates, thanks to agreements very advantageous tight with the local government. But the reality was very different: sellers in Italy had full management autonomy. They could follow the entire sales cycle, bargain prices and discounts for clients, negotiating economic and contractual conditions. A kind of structure ‘hidden’ that concluded contracts for the Apple and Irish depended economically.

Cook: “We pay more taxes than anyone else”

The investigation of the Revenue pointed precisely to show that the sales were made and managed from Italy, and that the Irish company was just a terminal for payments, just as with many other countries. Where

Il CEO of Apple, Tim Cook (Reuters)

systematically Apple creates companies that do not have tax residence and who are merging the sales in Ireland, thus evading the strictest local taxation. A mechanism that was abnormal also finished in the crosshairs of the European Commission. Also criticized the United States for evading taxes of $ 9 billion in the US in 2012 with billions of cash parked offshore, Tim Cook just days ago defended the Cupertino company: “We are the company that pays the most in this country than anyone else, “stressed Cook, criticizing the US tax authorities as obsolete:” It ‘was created for the industrial age, not digital. And this is bad for America. Had to be revised several years ago, “said Cook, pointing out that the criticism about 180 billion dollars abroad Apple are just” political “. “I’d like rimpatriarli- said COOK- but with the current taxation makes no sense. It would cost 40% in taxes repatriate. It is not a sensible thing to do. ”

December 30, 2015 (modified December 30, 2015 | 08:06)

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New pension reform, news from Renzi: ‘soon debate’, Poletti and flexibility – Blasting News

Debate always on the front of the pension reform. If 2015 goes to close without structural measures desired by a large part of workers, such scenarios lie ahead for next year? Some indication, albeit very general, came by the premier Matteo Renzi in his year-end press conference. And on the topic it is also addressed Giuliano Poletti , in an interview for the newspaper “La Stampa” explained the idea of ​​the government on the part-time pre-retirement, in view of the generational change. We see all the news about.

Matteo Renzi in recent hours has explained that no action was taken with a pension reform in 2015 because, he said, “the risk to make a mess was high.” There are hopes for next year? In 2016, according to Prime Minister, you can start a discussion, from which to draw evaluations. Renzi for welfare benefits by € 2,000 net per month can not be called a golden retirement, even if it was obtained with the contribution-based. Statements therefore much too narrow on the future reform that assures the prime minister, will be powered anyway by “a transparent debate.”

At the moment, therefore, the most important new features in terms of pensions and in force since 2016 are those provided for by the law of stability: First, the early 2016 of raising the threshold of no tax area for those over 75 with regard to the personal income tax ; second extension (subject however to the availability of resources) of ‘ option woman , the possibility for women to choose to retire early from work with the requirements of 35 of contributions and 57 years of chronological age (58 for professional women), with a net cut of the monthly allowance; from last to remember the seventh safeguard to 26.300 esodati.

For the next year? The line is dictated by Giuliano Poletti. In a speech in La Stampa, the Minister of Labour he explained in broad terms his prescription for the flexibility and the generational change: part time on retirement for workers who are 60 years old with salary to 65% in recent years, but pension to 100% once withdrawn. In the vision of Poletti, shared by the government Renzi, the company should ensure that the employees 65% of the fee, while the state would pay the imputed contributions, so that the pension on retirement is still full and equal to 100%.

He runs sparkling wine in the world, but the champagne remains a mirage – DiariodelWeb.it

BOLOGNA – In the world you are drinking more and more “bubbles” , and also Italian sparkling wines, such as Spanish, see increase its sales abroad, even if French ones make more. According to estimates of Nomisma 2015 will close with an 8% increase in export volumes (15% for the values) of “sparkling wines” : the top seller is the Italian one with over 2, 7 million hectoliters, with the French and Spanish 1.8 million with 1.6 million; unbridgeable gap in value: 990 million euro for our against 3 billion of value for those beyond the Alps.

The Monitor Nomisma Wine exports in 2015 of “sparkling wines” of Italy, France and Spain indicate a joint growth over the previous year by 8% in volume and 15% in value, with the highest increases for Italian products, which rose from 840 million Euros to about 990 million worth export. Even in the face of this progress, the gap with the more “noble” sparkling French remains huge: exports of transalpine cousins ​​should reach 3 billion euro, of which over 2.7 billion thanks to Champagne. Much more detached Spain, with about 420 million euro of sales across borders. Among the reasons for this gap are the average prices for exports: 17.1 EUR / liter for French (25.3 euro / liter in the case of Champagne) against our sparkling 3.57 (3.59 € / liter for Prosecco, 3.42 euro / liter for Asti) and 2.55 of the Spaniards (3.11 euro / liter Quarry).

“The world is mainly due to if sparkling wine consumption are growing – explains Denis Pantini, head of Nomisma Wine Monitor -. Only in the last ten years, the consumption of sparkling rose by more than 30% versus a percentage that, with regard to the wine as a whole, has not gone beyond 5%. Simultaneously, international trade also grew by more than 60% in value and exports of Italian sparkling wines went well beyond this performance: +242% “.

The trip Italian exports was the case with the economic crisis: looking more and more quality products but at lower prices, consumers have turned their attention to the Italian sparkling at the expense of the French. “Until 2008 – continued Pantini – the amount of Italian sparkling wine exports were less than 70% of the corresponding French and then succeed in overtaking the following year and get to close 2015 with volumes equal to one and a half times those of sparkling Bleus’ .

About 80% of the quantities exported from Italy refers to sparkling Dop, in which the role of lead actor falls to Prosecco. He has instead suffered the Asti that, on the contrary, since 2009 it has decreased in volume sold across borders by over 30%. The markets where the Prosecco is experiencing a real boom are the UK, the US, Switzerland, Canada and the Scandinavian countries and the Asti is undergoing a reduction in sales mainly in Russia, Germany, USA and Japan.

Istat, business and consumer confidence falls – AGI – Agenzia Journalistic Italy

Rome – Cala confidence of consumers and businesses in December. The first index, reports ISTAT, decreases to 117.6 from 118.4 the previous month; the second switch to 105.8 from 107.1 in November. Despite the decline, says the statistics institute, both indices remain at the high levels recorded in previous months. All estimates of the components of the consumer confidence decline: the decline is greater for the current economic components; the difference and ‘rather more’ contained for the personal component. Regarding businesses, the confidence climate in market services while falls in construction, in retail trade and, although more ‘slightly in manufacturing. According to Confcommercio, the data should not give rise to particular concerns because “both indicators are placed, for some months now, particularly high levels and is’ therefore physiological adjustments might encounter some content that does not seem to indicate a deterioration in the prospects for recovery of ‘Italian economy “. According to Codacons, the decline in consumer confidence and ‘due primarily to “Paris”, that the wave of attacks that rocked France on November 14. Critical judgment of Federconsumatori and Adusbef, they consider those Istat “estimates utopian”: “Continue to support that hopefully means remove the need ‘to work for a real and lasting recovery.” Istat today issued a series of figures for 2014, contained in the Statistical Yearbook national analysis shows that last year the employed (22 million 279 thousand) increased by 88,000 units’ on an annual basis (+ 0.4%); in particular, the employment rate of the aged 55-64 and ‘rose to 46.2% (3.5 percentage points more’ than in 2013). In 2014 and ‘even stop the fall in consumption: the average monthly expenditure per household – equal to € 2,488.50 – and’ substantially stable compared to 2013 and the percentage of households that have limited the amount ‘or quality’ of food and ‘dropped from 62.4 to 58.7%. Istat also notes the decline in the last year of a single family home: 71.2% against 73.4% in 2013; 19.3% pay a mortgage, compared with 16.6% in 2013. Growth, finally, the number of households living in rented homes, from 16.7 to 18.7%. (AGI)

(29 December 2015)