The new legal framework dedicated to not-for-profit financial statements, originated from Law 106/2016, has finally reached its ambitious objective to substantially innovate and organically discipline the complexity of operations, reporting and supervising activites, legal and fiscal implications of not-for-profit entities.

Specifically, Legislative Decree n. 117/2017 has strongly reformed the discipline of the obligations related to reporting and supervision activities, leaving to the competent authorities (Ministry of Labour) the issuing of additional technical guidelines which are meant to support the drawing up of the financial statements, according to the appropriate accounting standards framework.

The article, available on the new Eutekne periodical “Not-for-profit entities” provides an organic view on the legislative innovations and on the future implications on the reporting activities and obligations of NFP entities.