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Italian Soccer Clubs Renew Tax Protocol

by Ulrika Lomas, Tax-News.com, Brussels

10 February 2016


The Italian Revenue Agency has signed a protocol with the Italian national soccer federation (FIGC) to extend an agreement intended to enhance the Agency's oversight of the tax affairs of the professional clubs within the federation's ambit.

The agreement, which was first concluded in 2008, is to run for a further year, to February 28, 2017, after which both sides can determine whether it should be further renewed.

Both parties have agreed to the open exchange of the information necessary for the tax authority to verify that the clubs are respecting their tax obligations. The agreement also contains a privacy clause to guarantee confidentiality.

The FIGC will provide the Revenue Agency with a list of the professional clubs' corporate details and their tax and value-added tax (VAT) codes. Subsequently, by end-June 2016, the Agency will provide the federation with the results of the clubs' annual tax assessments for federal and regional corporate income tax and VAT, and individual income tax for their players, for the year ending December 31, 2014.

In addition, the Agency will check that the clubs have made payments based on their annual VAT declarations, which are due by March 31 this year; and that, generally, all other tax returns and tax payments are up to date.

TAGS: individuals | compliance | tax | business | value added tax (VAT) | tax compliance | corporation tax | tax authority | Italy | individual income tax

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