News
Sale of a business: clarification on the buyer’s liability towards the revenue
- 13/11/2017
When a business is sold, the buyer can be considered jointly liable with the seller for debts relating to fiscal violations committed by the seller.
In order to protect himself, the buyer can ask the revenue the issuance of a certificate about fiscal assessments on that business (certificato dei “carichi pendent”) and he is discharged from any liability when the certificate is negative or when it is not issued within a determined period of time.
With Judgment no. 17264/2017, the Italian Court of Cassation has stated that, where the buyer has not requested that certificate, he cannot benefit from that debt-discharging effect. Nevertheless, his joint liability is in any case limited to those debts relating to the year in which the sale has taken place and to the two previous years, according to article 14, paragraph 1, of Legislative Decree no. 472/1997.
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