The Italian term translates to "split," "division," or "severance." Depending on the context, it refers to significant structural changes in business, law, politics, or psychology. 1. Corporate and Legal: Demergers (Corporate Law)
In a business context, scissione is a corporate restructuring operation where a company transfers all or part of its assets and liabilities to one or more existing or newly formed companies. Scissione
The original company dissolves, and all its assets/liabilities are split between two or more recipient companies. The Italian term translates to "split," "division," or
The original company continues to exist but spins off a portion of its assets/liabilities to another entity. 19/2023) has updated the rules for international scissione
Recent Italian legislation (Legislative Decree No. 19/2023) has updated the rules for international scissione to align with EU directives on cross-border mobility. 2. Fiscal: Scissione dei Pagamenti (Split Payment)
In the Italian tax system, (Split Payment) is a VAT mechanism used primarily in transactions with public administrations or listed companies.
Instead of paying the VAT to the supplier, the buyer "splits" the payment: they pay the taxable amount to the supplier and pay the VAT amount directly to the Treasury.