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29 August 2012

On August 27, 2012, the Italian Competition Authority published a regulation regarding a new annual fee that companies with a turnover exceeding € 50 million must pay to the Italian Competition Authority (ICA).

The regulation provides that:

• Every company must pay the fee if its individual total revenues exceed € 50 million.

• The fee is calculated as 0.008% of the total (worldwide) revenues of each company. The fee cannot exceed € 400,000 for each company.

• The revenues to be taken into account are the total worldwide revenues resulting from the balance sheet approved before July 18, 2012 and, specifically, those listed under item A1 of the income statement (conto economico). In the case of banks and financial institutions the turnover used shall be equal to the value of one-tenth of their total assets, with the exclusion of memorandum accounts (conti d’ordine) and, in the case of insurance companies, to the value of premiums collected.

• The fee for 2013 must be paid by October 30, 2012. However, the fee cannot be paid before October 1, 2012.

• The fee must be paid to account no. 000781 held in the name of “Autorità Garante della Concorrenza e del Mercato” at “Banca Nazionale del Lavoro”, IBAN code IT25 V010 0503 2390 0000 0000 781. The payment order must indicate the name of the company for which the fee is paid, its fiscal code and/or the VAT number and the reason for the payment.

• The payment must be communicated to the ICA by November 30, 2012 to the following email address: contributo.agcm@pec.agcm.it. 

We are in contact with the ICA to clarify the scope of application of the regulation. Albeit not specified in the regulation, our interpretation is that non-Italian companies fall outside the scope of application of the regulation and that, in case of a group, only the subsidiaries and affiliates registered in Italy fall within its scope. We have sought a written confirmation from the ICA on this point and are awaiting a response.

NEW MANDATORY ANTITRUST FEE INTRODUCED AND MERGER THRESHOLDS AMENDED

21 June 2012

The Italian Government has introduced two important changes to the Italian antitrust rules that will affect companies doing business in Italy ...

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