Official extension for the beneficial owner’s expiration

The deadline for mandatory communication of beneficial owner was the subject of an official extension.

Or rather, the deadline was suspended due to the intervention of the Lazio Regional Administrative Court.

In particular, with Ordinance n. 8083 of 7 December by the TAR of Lazio (Section Four) accepts the party’s request for precautionary measures and, consequently:

• suspends the effectiveness of the decree of 29 September 2023 of the Ministry of Business and Made in Italy, containing “Certification of the operation of the system for communicating data and information on beneficial ownership”, published in the Official Journal – General Series no. 236 of 9 October 2023;
• sets the public hearing on March 27, 2024 for the discussion of the merits of the appeal.

At this point a question arises spontaneously: what will happen to this obligation in the coming months?

And again, if the obligation to communicate the beneficial owner, hypothetically, were abolished, will the Chamber of Commerce fees (32 euros) already paid by companies that have correctly fulfilled this obligation within the established deadline be reimbursed?

We had already highlighted in these pages the various critical issues of this fulfillment.

Last but not least, through our in-depth analysis by Salvatore Cuomo who a few days ago highlighted that we were dealing with a practice which was not felt to be lacking and which – in 90 percent or more of cases – could and should be considered not necessary, taking the form of a communication to the Chamber of Commerce of data already available to the Business Registry, and which could well be “transferred” by the Chamber of Commerce itself.