In recent years, the relationship between businesses and the tax authorities in Italy has been profoundly redefined by a series of legislative measures aimed at promoting transparency and preventing tax risks.

The turning point was Legislative Decree 128/2015128/2015, which introduced the collaborative compliance regime, recently updated and expanded by Legislative Decree 221/2023 and Legislative Decree 108/2024. 108/2024.

This regime allows companies to establish constant and preventive dialogue with the Italian Inland Revenue Agency, with the aim of resolving tax issues before they turn into disputes.

The operating procedures were detailed in the MEF decree dated 6th December 2024, and and in the Revenue Agency provision no. 450193 dated 17th December 2024, which approved the new membership model.

Access to this regime, which in the coming years will also be open to medium-sized companies (the threshold will gradually fall from Euro 750 million to Euro 100 million in revenue), requires the organization to have an effective and certified Tax Control Framework (TCF).

The TCF is a structured system of internal procedures and controls that allows tax risks to be identified, assessed, and managed in a systematic manner, ensuring the traceability of decisions and transparency vis-à-vis the tax authorities.

Operationally, companies wishing to join the regime must equip themselves with a TCF that complies with the guidelines of the Revenue Agency (provision no. 5320 dated 10th January 2025), integrated into the corporate governance system; have the system certified by independent professionals (lawyers or accountants registered with the relevant professional associations, in accordance with MEF Decree No. 212 dated 12th November 2024); prepare an annual report on the functioning of the system to be sent to the management bodies; submit an electronic application for participation using the form approved by the Revenue Agency; maintain transparent and cooperative behaviour, promptly communicating any tax risks identified and responding quickly to requests from the administration.

The advantage for those who choose this path is concrete: reduction or exclusion of administrative penalties for risks communicated in time, exclusion of criminal liability for certain violations, shortening of assessment times, and no guarantee obligation for tax refunds.

The operational heart of this system is Tax Risk Assessment (TRA), which consists of identifying business processes at risk, mapping tax risks, assessing their probability and impact, and defining control activities and tolerance thresholds.

It starts with identifying business processes that may generate tax risks, analysing the most sensitive areas, and building a risk map to guide decisions.

For each risk, the probability and impact are assessed, control activities are defined, and the residual risk is compared with the tolerance threshold.

This approach not only reduces the risk of errors and penalties, but also improves the quality of processes and the reputation of the company.

The regulatory framework is clear: Legislative Decree 128/2015, supplemented by subsequent measures, does not merely introduce obligations, but offers companies an opportunity for dialogue and legal certainty.

The simplifications provided for, such as the reduction of assessment terms and the possibility of avoiding penalties and criminal liability in the event of timely communication of risks, represent a concrete incentive.

However, to reap these benefits, a serious commitment is required: investing in control systems, training internal resources, and adopting clear and documented procedures.

It is not an immediate process, but it is a strategic choice that can make a difference in terms of competitiveness and relations with institutions.

Ultimately, the new regulations transform tax risk management from a simple compliance requirement to a strategic lever for competitiveness and corporate reputation, offering companies concrete tools to deal with their relationship with the tax authorities with greater peace of mind and transparency.

Those who seize this opportunity will not only reduce risks but will also be able to build a competitive advantage based on trust and the soundness of their processes.

Even those who do not formally access the regime can adopt TCF as a best practice, strengthening their governance and preparing for a future in which proactive tax risk management will become increasingly central.