Italy | Set to be the First EU Country to Adopt Real-time Electronic Invoice Verification System

By |April 12th, 2018|

Hot on the heels of Spain and Hungary, who recently made waves introducing real-time invoice reporting, Italy has gone a step further in its quest to reduce the VAT gap by adopting the “clearance model,” whereby tax authorities will audit and monitor transactions in real-time. This system is being used [...]

Italy | Updates list of companies qualifying for the split payment system

By |October 10th, 2017|

The Italian Tax Authorities have released revised list of companies that qualify for the revised split payment VAT system. As a reminder, the VAT spilt payment system is designed to act as a measure aimed at curbing VAT fraud by obligating the taxable person acquiring goods or services to pay [...]

Italy | New quarterly VAT return for 2017 confirmed by the tax authority

By |April 5th, 2017|

  After a publication from the Italian tax authorities on 26/03/2017, it has been now confirmed that a new quarterly VAT return (Comunicazione IVA trimestrale) must be submitted in 2017 with first deadline on 31/05/2017. Everyone must submit this new return with the only difference that quarterly filers must submit [...]

Italy – Further Updates to the VAT rules coming into effect January 2017

By |October 28th, 2016|

A new decree has been published on the 22/10/2016 by the Prime Minister, Mr. Renzi, and the Minister of finances and economic, Mr. Padoan, introducing new VAT obligations coming into effect from 1st of January 2017. The decree brings two main changes in addition to the annual VAT return changes [...]

Italy – Changes to the Annual VAT return

By |October 24th, 2016|

It has been confirmed by the Italian Tax Authorities that the deadline to submit annual declarations will be moved from September to February of each year. Additionally, the annual VAT Communication declaration (the Comunicazione Annuale), normally due each year, has now been cancelled with effect from 1st January 2017. [...]

Italy – reduced rate of VAT to apply for e-publications

By |January 13th, 2016|

It has been confirmed that the reduced 4% rate of VAT will be applied by Italy to all supplies of digital publications. It was previously thought that only e-books would enjoy from the reduction but the 2016 Stability (Budget) Law has confirmed that all publications can benefit.  This has happened [...]

Italian ‘Split Payment’ VAT System Approved

By |September 23rd, 2015|

The EU has approved Italy’s request to implement a “split payment” VAT system. Italy has been applying this system since 1 January 2015 but the EU Council only granted approval following a period of consultation.  The approval has been granted with retrospective effect from 1 January 2015 and it will [...]

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