Sectoral specialization and digitisation: this is how Studio Stella Monfredini has become a reference point for the publishing and communications world. The passion for the sector and the awareness of the importance of digital by Paolo Stella Monfredini at the basis of success.
Plus I chose the path of specialization I immediately chose that of digitalization. I am convinced that new technologies and artificial intelligence will play an increasingly important role in the organisation of professional activities that will automate processes and reduce the operational costs of structures by releasing resources that will improve the quality of the advice provided. Predictive functions related to the knowledge of jurisprudence, and it is recent news that the super tax merit database will enter into the 2.0 litigation also provided by the National Recovery and Resilience Plan, legal search, contract review and blockchain are now entering into the most structured studies. On the other hand, in the new security framework outlined by the EU Commission, artificial intelligence promises to revolutionise the activity of the tax in the various countries. I have been working alongside Wolters Kluwer Tax & Accounting Italia on technologies since the beginning. Obviously, our digital and technological structure has changed both for the development of activities and to meet regulatory and legislative requirements. I have recognised in our technology partner the ability to propose digital solutions that, in addition to automation, offer integration, precision and speed. These are the basic conditions to satisfy the customers, to trust them, to improve the quality of the advice provided and to consolidate their professional reputation › says Paolo Stella Monfredini.
Paolo Stella Monfredini founded his studio in Cremona in 1995 with the name of his company and tax firm. In particular, the firm’s services are oriented to tax and corporate advice, both Italian and international, tax litigation and bankruptcy law.
Later, the Milanese headquarters of Studio Stella Monfredini opened and again plays the specialization card, this time in a specific sector, that of publishing and telecommunications.
As part of the choices, the specialization in publishing has a particular origin.
• I have always been fascinated by information, books, communications and generally the diffusion of cultural products. Given my training, dealing with the world of information and publishing from a corporate and tax point of view was a natural step. Moreover, the fascination for new technologies has led me to live within this sector the transition from traditional to multimedia and digital publishing. I do not think there has been any other productive sector that has been more affected by technological development, both from the point of view of the dissemination of information and the effects on the mechanisms of public opinion generation.
According to Paolo Stella Monfredini publishing and communications, together with the music and video market, are the sectors that before and more than any other have been affected by digital transformation: a varied and complex world traditionally based on physical support, has been upset
Moreover, daily and periodical newspapers, like books, texts in general, videos, software, music and sounds, allow the digitization of their respective contents that can thus be transferred through the internet. In other words, the contents can be dematerialised and transferred without any physical support. These products allow direct e-commerce (on-line) where all stages of the supply of virtual non-tangible goods or services through electronic means are done via the internet. It follows that for VAT purposes the download of an ebook or a digital newspaper or a musical piece constitutes a provision of services while the sale of the same goods on a physical medium (whether book, paper or music dvd) constitutes a sale of If the legal framework is substantially defined in the VAT sector, not so far as direct taxation is concerned, where, pending the introduction of a European web tax, the various countries are moving in a scattered order. For example, in Italy the so-called digital service tax has been introduced. All the logics of the sector are complete and specific: accounting aspects, budgetary representation, copyright taxation and royalties, special national and Community VAT schemes: specialization is necessary because there are countless cases.
Paolo Stella Monfredini strongly advises young people who approach the profession of the accountant to focus decisively on specialisation and digitalization convinced that this represents the future of the profession.
Addressing technological transformation and evolution, regulation and contract requires a systematic approach, which is undoubtedly supported by digital.
• Technology is important for consulting, an essential service for our customers and interlocutors. To make the consultants seriously, it is necessary to have experience and training, but on the other hand important technological structures are needed. Today we need automation, algorithms, blockchains, all new technologies. Since its start our firm has had the technological support of Wolters Kluwer Tax & Accounting Italy. Our demands for automation and digital excellence have grown with the development of our business. Greater commitment alongside our customers also means greater need for automation, freedom of access, computing capacity, and application modernity. The new technologies and the ability of Wolters Kluwer to create applications for digital sharing and collaboration also support our need for freedom of location. Today we are free to have customers everywhere without having to equip ourselves with physical structures. In Italy or abroad we are operational thanks to the digital structures that our technology partners provide us with.