Taxation in the Public Administration
In recent years, interest in public sector taxation has grown significantly.
The process of corporatization of the Public Administration has determined, both for tax law operators and for the Financial Administration itself, a progressive shift of attention from the public entity as an “active entity” in the tax relationship (entity to which the law recognizes the right to demand taxes) to that of a “taxable entity”, which – like a commercial company – is subject to direct and indirect taxation (with particular regard to VAT), and is required to fulfil formal and substantial obligations, albeit with the numerous peculiarities that characterize the taxation of the Public Administration sector.
In this changed context, people dealing with this sector must therefore pay particular attention both to the demands of the Tax Offices and to the ever-continuous supervision of the judges of Court of Auditors (“Corte dei Conti”).
The correct management of the Public Administration taxation is therefore assuming an increasingly central and, in some ways, even strategic role in the management of a public entity, becoming a variable able to affect significantly the economic and financial aspects of the entity.
In this constantly evolving scenario, LTPartners has gained twenty years of experience in assisting Public Administration bodies and is able to offer a 360-degree advice both on fiscal, accounting, civil and corporate matters, and on the ordinary and extraordinary management phases of the public entity.
Our approach is to address the issues balancing the needs for theoretical investigation of tax, civil and corporate matters, with the practical viewpoint required by the company management or by the operators who daily deal with the most recurring issues in this area.
Our Firm is specialized in continuous assistance for the provision of the following services: consultancy and opinions in the interpretation of tax, accounting, civil and corporate legislation in relation to ordinary and extraordinary operations of the public entity; consultancy for the purposes of direct taxation and social security contributions of employees and collaborators of the entity; consultancy in the management of international taxation; assistance in determining taxes, drafting of rulings, audits of the tax office, tax assessments also in relation with the Revenue Agency or local authorities; representation and defence of the entity in tax litigation; drafting and sending of all tax returns, assistance in the drafting of the institutional financial statements of the entity and in the drafting of the financial statements for the separate commercial activities of the entity, implementation of the separate fiscal accounting system; constant updating on the main fiscal innovations concerning the Public Administration; drafting of specific schedules regarding the main obligations of the entity, practices with the competent chambers of commerce.
LTPartners therefore is a valid point of reference for all entities belonging to the Public Administration which, in consideration of the size of the entity, of the importance of the transactions carried out and of the complexity of the tax legislation in continuous evolution, decide to reduce tax risks through external tax advisors.