Summary
Travel in the municipality exempt
As of January 1st 2025, expense documents relating to employee travel will no longer only have to be those issued by the carrier: it will no longer be necessary to provide detailed documentation from the carrier itself, but travel and transport expenses can be documented by the employee in another way, e.g. with the help of dedicated apps.
Exchange rate differences
Beginning in 2024, year-end ‘valuation’ exchange differences become deductible (or taxable) in the year in which they are accounted for, and differences accounted for up to 2023, even if not realised in 2024, are reabsorbed.
Fixed-term contract causalities
The announced end to December 31st 2024 for renewals and extensions of fixed-term contracts lasting more than 12 months, in the absence of identification of the specific reasons provided for by the rule in collective bargaining, has been postponed thanks to the extension to December 31st 2025 contained in the “Milleproroghe” decree law approved at the Council of Ministers meeting on December 9th.
Credit licence penalty
The value of the works on which to calculate the amount of the administrative penalty, to be incurred by companies and self-employed persons operating on construction sites without a “credit licence” (or an equivalent document) or with a licence with less than 15 credits, is that referred to the individual contract signed by the offender. Value to be considered net of VAT and in any case never less than EUR 6,000.
Catastrophe risks insurance
The so-called “Milleproroghe” decree-law, contains the postponement of the deadline for complying with the obligation to take out a policy against ‘catastrophe’ risks on the part of the companies identified by the regulation, which is now postponed to March 31st 2025. The obligation had been introduced by the 2024 Budget Law (Article 1 paragraphs 101 – 111 of Law 213/2023), and indicated December 31st 2024 as the deadline for compliance..
Legal interest rate
With the Ministerial Decree of 10/12/2024, published in the Official Gazette No. 294 of 16/12/2024, the legal interest rate pursuant to Article 1284 of the Civil Code was reduced from 2.5% to 2% per annum.