Canada    FinTech Guide    Chapter 10    Italy


10. Accounting
Italy  Italy

No particular reservations are made regarding businesses offering digital based accounting services, also due to the fact that the players in this sector are currently few and they are not subject to particularly strict regulations.



Legal Affairs


Accounting services (including tax calculations, preparing and filing of tax returns) may require a license to be provided in the Italian territory. This shall depend upon the specific features of the provided service. For instance, the activities related to the provision of services concerning the creation of financial reports and the issuing of e-invoicing are not subject to specific licensing requirements, as well as those related to the provision of an accounting software to be managed directly by the tax payer. A license, however, shall be required for providing services of keeping of accounts on behalf of clients or the tax returns on behalf of clients can only be carried out by authorized parties (e.g. Certified Public Accountants).



Economic Conditions


Currently, few businesses offer digital based accounting services in Italy and they are mainly B2B businesses. The cloud based tools for invoicing are the most common services provided in this field.



Miscellaneous


A particular attention shall be paid at regulated activities (i.e. activities reserved to Certified Public Accountants). Indeed the provision of such activities absent the proper qualification might constitute, depending on the specific circumstances of the case, a criminal offence under Italian law.



Contributing Authors

JENNY.Avvocati

Christoph Jenny
Milan, Italy


Portolano Cavallo

Manuela Cavallo
Rome, Italy

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Chapter Index:


1. Payment Services / Mobile Payment

2. Asset and Portfolio Management

3. Consulting and Broking Services / Robo-advisory / Auto-trading

4. Trading Platforms / Social Trading Platforms / Signal Following

5. Crowdfunding / Crowdinvesting / Crowdlending

6. Virtual Currency - Bitcoin

7. Loan Services / Factoring / Loan Broking / Finetrading

8. Online Banking Services

9. Analytics and Research / Data Management / Risk Management

10. Accounting

11. Identification

12. Online-pawning

13. InsurTech

14. RegTech

15. Initial Coin Offerings (ICOs)

Disclaimer:
The information in this guide provides a general overview at the time of publication and is not intended to be a comprehensive review of all legal developments nor should it be taken as opinion or legal advice on the matters covered. It is for general information purposes only and readers should take legal advice from a Multilaw member firm.

Publication Date: 1 May 2018