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Mandatory disclosure rule in Italy under DAC6


March 16 2021
The EU Directive 2018/822 of May 25 2018 (DAC6) introduced the mandatory reporting of potentially aggressive cross-border tax planning arrangements.
Italian implementation of DAC6
Italian Legislative Decree No. 100 of July 30 2020 implemented the DAC6 Directive (Italian DAC6 Law): its wording largely resembles the one of the DAC6. Subsequently, Ministerial Decree November 17 2020 further specified the hallmarks and the criteria to verify the fulfilment of the main benefit test (Italian DAC6 Ministerial Decree).
The Regulation of the Director of the Italian Revenue Agency No. 364425 of November 26 2020 provided technical rules related to the communication of reportable cross-border arrangements. On February 10 2021, Italian tax authorities issued guidelines clarifying the application of the new mandatory disclosure regime as well as the scope of the hallmarks, and giving examples (DAC6 Guidelines). ....

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Which levers can TN pull to generate more revenue? - The Hindu BusinessLine


Taxes from alcohol, petroleum products, vehicle registrations can be tweaked
The interim Budget for 2021-22 announced by the Tamil Nadu government bore the scars of the Covid-19 pandemic – contraction in revenue, expenditure mounting due to Covid-related spending and expanding fiscal deficit. According to revised estimates for FY21, the State fiscal deficit is expected to widen to ₹96,889.97 crore amounting to 4.99 per cent of the GSDP. While the budgeted deficit for FY22 is lower at ₹84,202.39 crore, it still amounts to 3.94 per cent of GSDP.
However, Tamil Nadu is not a stranger to such dire fiscal situations. It has struggled to match a contracting revenue stream with mounting expenditure, exacerbated by political doles, in the past too. The State’s borrowing due to deficits recorded over the years has resulted in taking the outstanding debt as on March 31, 2021 to ₹4,85,502.54 crore. ....

Tamil Nadu , Public Sector Enterprises Spses , Madras School Of Economics , Commission Recommendation , Madras School , Gross State Domestic Product , Dearness Allowance , State Finance Commission , State Public Sector Enterprises , Tn Revenue , Tn Revenue Data , Tamil Nadu Revenue Plan , தமிழ் நாடு , மெட்ராஸ் பள்ளி ஆஃப் பொருளாதாரம் , தரகு பரிந்துரை , மெட்ராஸ் பள்ளி , மொத்த நிலை உள்நாட்டு ப்ராடக்ட் , நிலை நிதி தரகு , நிலை பொது துறை நிறுவனங்கள் , ந் வருவாய் , ந் வருவாய் தகவல்கள் , தமிழ் நாடு வருவாய் திட்டம் ,