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Società per azioni (S.p.A. or spa) is a form of corporation in Italy, meaning 'company with shares' (although often translated as 'joint-stock company', which may or may not be a limited liability entity). It is more or less equivalent to S.A. or public limited company (PLC) in other countries.
Barilla is distributed in the UK by Euro Food Brands Ltd. Barilla's Italian production facilities are located in Parma, Foggia, Marcianise, Castiglione delle Stiviere, Cremona, Melfi, Rubbiano, Novara, Muggia [10] and Ascoli Piceno. [11] Its plant in Greece (near Thiva) is the third largest in Europe. [12]
There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province.
- Sources and Legislation Features
- Definitions and Purpose
- Formation
- Accountability and Governance Structure
- Transparency Requirements and Control Systems
- Specific Tax Treatment
The legal transplant of the benefit corporation into the Italian system was not the result of a long academic and political debate, considering that the provisions regulating società benefit were included in the 2016 “Stability Law” (a law aimed at regulating the country’s economic policy through public finance and budgetary measures) approved at t...
With regard to the purpose, the Italian law resumes the provisions of Delaware: SB are characterized by a dual-purpose clause, combining the production of profits and the pursuit of both a “General” and (one or more) “Specific” public benefits.Footnote 46 Società benefit shall pursue, in addition to the profit-making purpose, one or more public ben...
Both newly established companies and already existing companies can acquire the status of società benefit. A new SB shall be incorporated in accordance with the applicable company law and società benefit statute. An existing company may become a società benefit by amending its articles of incorporation and by-laws (so that they contain the double-p...
The direct consequence of the inclusion of a public benefit purpose in the corporate purpose clause is the alteration of the governance structure and the powers, duties, and responsibilities of the directors. With regard to directors’ duties and responsibilities, Italian law draws its inspiration from the Delaware statute. In fact, it requires the ...
To create greater accountability and transparency, companies adopting the “for-benefit” model are required to publicly report on their social and environmental performance so that customers, workers, investors, and policy makers can assess the company’s impact. In regulating the transparency requirements and the control system, the Italian law does...
With regard to tax treatment, in Italy, there are no specific tax advantages associated with the use of the “for-benefit” model.Footnote 75 Società benefit are subject to ordinary income tax rules provided by the Income Tax Code (TUIR) Footnote 76for each business organizational form.
INDONESIA’S ‘POSITIVE INVESTMENT LIST’. For decades before 2020, Indonesia had relied upon the ‘Negative Investment List’ setting out a long laundry list on the restrictions and requirements to invest in Indonesia.
In Italy, two common forms of capital companies are the “S.p.A.” (Società per Azioni) and the “S.r.l.” (Società a Responsabilità Limitata). Here are the main characteristics and differences between them: Legal Structure – S.p.A. is a public limited company that can offer its shares to the public. It is subject to more stringent ...
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What is a Società Benefit?
Società per Azioni (S.p.A.) A Società per Azioni is a public limited company by shares. This form of corporation better suits the needs of large businesses requiring a significant amount of capital.
