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MARGINE (MARGIN SCHEME): a special system for determining VAT for certain types of business (i.e. transfer of used goods or objets d’art). The purpose of the system is to avoid double taxation, generally on assets for which the seller was not able to detract VAT when he first purchased them. For this purpose, the tax owed is determined by discorporating it not from the total amount of the transfer, but only from the “margin”, that is the difference between the sale price plus any extra expenses. (For example, if an art dealer buys a work of art for 1,000 euro by a private person and sells it for 1,500 euro, the margin of the transaction is 500 euro: it is on this amount that VAT will be discorporated, using the asset’s appropriate rate).

MEDIAZIONE TRIBUTARIA (TAX MEDIATION): deflationary tool of tax litigations aiming to prevent and avoid disputes that can be settled without going to court, taking into account the guidelines of the law and therefore of the reasonably predictable outcome of the trial. Mediation is enforceable and mandatory on the claims of a value not exceeding 20,000 euro, with regard to all impugnable acts issued by the Revenue Agency only and notified from April 1, 2012 (issued from 1 December 2012 for the acts of Provincial offices - Real Estate and Land Registry).

METODOLOGIE DI CONTROLLO (INSPECTION METHODS): detailed information on the different inspections carried out by the Revenue Agency during verifications, according to the taxpayer’s business.

MINUSVALENZA (CAPITAL LOSS): a loss incurred when, in selling an asset or a stock, the price paid by the purchaser is lower than the residual value of the asset (purchase value net of amortization fund) or than the purchase value of the stock.

MISURATORI FISCALI (FISCAL DEVICES): cash registers, electronic terminals and electronic scales equipped with a printer that are able to issue a suitable receipt for the sale of goods, food and drink in public services.

MODELLI DI VERSAMENTO (PAYMENT FORMS): forms that allow the taxpayer to pay taxes (see also F23, F24, and Online payment).

MODELLO 770 (770 FORM): the form used by those subjects (typically, employers) who pay out salaries of any kind to declare deductions. As of 2002 the tax return of these subjects (also known as withholding agents) has been divided into two parts, which represent two distinct tax returns according to the information contained:

• 770 Form – Simplified: it must be used by the withholding agents to send to the Revenue Agency, via the Internet, all fiscal data regarding deductions on employees’ salaries and other tax and insurance data;

• 770 Form – Ordinary: it must be used by the withholding agents, by intermediaries and by other subjects taking part in important operations for fiscal purposes, who are required to communicate all data regarding deductions on dividends, on profits from stocks, on income from issued capital or on operations of a financial nature, as well as summary data regarding payments, compensations and tax credits. All this data must be communicated via the Internet.

MOMENTO IMPOSITIVO (TAXATION MOMENT): for the purposes of value added tax (VAT), this is the moment when the tax debt becomes a legal duty. In particular,

• for transfer of goods, the debt exists from the moment of stipulation in case of immovable properties and from the moment of delivery or of sending in case of movable properties;

• for the provision of services, the debt exists from the moment the payment is made.

MORATORI (ARREARS): see Interests on arrears.

MOTIVAZIONE DELL’ACCERTAMENTO (REASONS FOR ASSESSMENT): the explanation of the reasons, in fact and in law, that justify the verification notice. If there is no reason for assessment, or if it is inadequate, the verification notice is to be considered invalid. Invalidity can be claimed by means of an appeal to the competent provincial Tax commission.

MUTUO IPOTECARIO (MORTGAGE LOAN): loan granted by banks with real guarantees, consisting in a mortgage on real estate property. When the mortgage is given in order to purchase, build and refurbish the main residence, the relative interests can be partially detracted from Irpef.