VAM Investments Group S.p.a.

Tax and accounting obligations

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Tax and accounting obligations

The controller processes personal data of clients / investors and suppliers in keeping its general accounts and complying with the civil-law and tax obligations laid down by the applicable legislation. The processing includes, in particular: recording sales and purchase invoices; keeping the VAT registers and the mandatory accounting records; preparing the financial statements; managing tax returns and tax payments; retaining accounting documents for the statutory periods; dealing with tax advisers, auditors and the competent bodies.

Why we process the data and on what legal basis

  • Keeping the general accounts and the mandatory accounting records.Legal basis: Legal obligation (Art. 6(1)(c) GDPR)
  • Compliance with tax obligations (VAT registers, tax returns, payments).Legal basis: Legal obligation (Art. 6(1)(c) GDPR)
  • Preparing the financial statements and the mandatory civil-law documentation.Legal basis: Legal obligation (Art. 6(1)(c) GDPR)
  • Retaining accounting documents for the statutory periods.Legal basis: Legal obligation (Art. 6(1)(c) GDPR)
  • Dealing with tax advisers, auditors and the competent public bodies.Legal basis: Legal obligation (Art. 6(1)(c) GDPR)

The data processing is based on compliance with legal obligations arising from the applicable civil-law and tax legislation on the keeping of accounting records, invoicing, tax returns and document retention.

Categories of data subjects

  • Clients / investors (natural persons)
  • Suppliers (natural persons)
  • Professionals and consultants

Data subjects requiring greater protection: B2B customers and/or suppliers

Categories of personal data

  • Identification data (e.g. first name, surname)
  • Contact data (e.g. address, email, telephone)
  • Tax data (e.g. tax code, VAT number)
  • Economic and financial data (e.g. invoice amounts, bank details, IBAN)
  • Data relating to commercial transactions (e.g. sales/purchase invoices, payments, due dates)

Categories of recipients

  • Agenzia delle Entrate (Italian Revenue Agency)
  • Lawyers (for debt recovery and disputes)
  • Guardia di Finanza (Italian financial police), in the event of inspections
  • External auditors
  • Statutory auditors

Processors

  • XION Informatica S.a.s. di Cattivelli & C. (IT services)
  • TLA Studio Tributario e Legale (Accountants and tax advisers)
  • Datev Koinos S.r.l. (Software services)
  • Microsoft Ireland Ltd. (Software services)

Transfers to third countries

Some personal data are transferred to countries outside the European Economic Area (EEA). Below you will find, for each transfer, the party involved, the destination country and the safeguard that makes it lawful:

  • Microsoft Ireland Ltd. (Software services) — United States (safeguard: EU-US Data Privacy Framework)

Microsoft has obtained certification under the EU-US DPF, which is covered by an adequacy decision of the European Commission.

Retention period

The data are retained for the period laid down by the applicable civil-law and tax legislation (as a rule 10 years), without prejudice to further needs for the protection of rights (e.g. litigation).

Consequences of not providing the data

Providing the data is necessary to comply with legal obligations in accounting and tax matters; without them it will not be possible to establish or properly manage the business relationship and to fulfil the related obligations.