Revenue Agency with the Circular 45 / E, 13/09/2010 integrates the instructions only to the statements and 770, regarding the application of "monitoring tax" paid by the payers and the obligations faced by intermediaries
subjective Setting - The requirement to build Form RW respect for individuals, for non-commercial entities, for the simple societies and for individuals treated, still living in Italy. Are excluded from monitoring bodies and commercial companies or corporations, other than partnerships. Starting this year, then in 2009 the year of the tax, were also exempted from the compilation of the subjects that form RW:
- working abroad for the State, its political subdivision or a local authority, or international organizations;
- is employed or working abroad on a continuous basis in areas border and in neighboring countries.
If there are more good on real rights, as with the bare ownership and usufruct, the indication given is that the performance will be undertaken by both parties, as is the ownership of the usufruct of which bare ownership are able to generate income from foreign sources (and thus satisfy the assumption that underlies the obligation of monitoring).
However, when the assets held abroad are in communion or Joint account, then they must be reported in Form RW holder of each subject with reference to the value of the person's percentage of ownership: this on the assumption che l’esercizio dei diritti relativi all’intero bene richiede un atto di disposizione anche da parte degli altri cointestatari, come è, ad esempio, nel caso degli immobili in comproprietà o delle azioni in comunione. Ad ogni modo i contribuenti sono sempre tenuti a riempire le specifiche sezioni sul monitoraggio quando le attività finanziarie e patrimoniali sono possedute per il tramite di interposta persona, per esempio, nel caso queste risultino intestate “formalmente” ad un trust.
Se ancora i soggetti cointestatari hanno la piena e autonoma disponibilità delle attività estere, allora nella dichiarazione di ciascuno di essi vi deve essere l’indicazione dell’intero valore delle attività, e not only its own share of possession: the most frequent case, exemplified by the same road, is one of the current account Joint account. What matters is the availability of detained abroad
Setting objective - The circular points out that, since the declaration of this year, are involved in monitoring not only financial assets held abroad, but also all those of capital nature, must always be given in Section II of Form RW, thus including situations where the production of taxable income in Italy is only abstract and potential (obviously provided that exceeded the threshold of € 10 thousand). Section III is devoted to monitoring the transfer to, and statistics that during the tax year affected the investments and assets held abroad in Section II (even in the event at the end the period they do not exist, because there has been disinvestment or termination of financial reports). In calculating the threshold of € 10 000, below which there is no requirement for monitoring, are also considered possible divestitures: consequently, if a taxpayer who holds a foreign account, has made a divestment amounted to 6 thousand and € an investment of € 5 thousand, total supera il “tetto” dei 10mila euro e deve indicare i movimenti in questione in RW.
Viene invece precisato come non debbano essere indicati i pagamenti effettuati in Italia per l’acquisto di beni all’estero: per fare un esempio, se un soggetto acquista un immobile in altro Paese, ma effettua il bonifico al venditore su un conto corrente italiano, si dovrà limitare ad indicare il possesso del bene nella sezione II del modulo RW, mentre non dovrà segnalare alcun trasferimento nella sezione III (essendo questa deputata ad accogliere i trasferimenti dall’Italia sull’estero, dall’estero in Italia e quelli estero su estero). Importante è poi la precisazione relativa alla necessità di indicare anche transfers carried out by others for their own benefit.
in this regard is the fact his father's example transferring money abroad for the purchase of a property by the son: he must show not only the property in section II, but also transfers linked to it in section III, although carried out by someone other than the father, but will not have any obligation to monitor, not being implemented handling related to an asset owned by him abroad.
Brokers - In this regard, please note that the requirements of detection and reporting of cross-border flows of financial assets also affect brokers. Yes This is a statement by name, which must be carried out, by March 31 of each year, banks, SIM SpA, the Italian Post Office, trust companies, stockbrokers, permanent establishments in Italy's banks and investment firms to non-residents, notaries, intermediaries and other residents who, for professional reasons, into the transactions, companies and issuers, limited to securities and the securities they issue, asset management companies, accountants, accountants.
09/14/2010
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