Italy - vatcalc.com

Italy exempt Cryptoassets mining and utility tokens for funding offers from VAT

13 January 2023 in

Crypto-Assets

Two rulings clarify VAT liabilities on Cryptoassets The Italian Agenzi Entrate has provided guidance on the VAT liabilities of Cryptoassets in two rulings VAT exemption for Cryptoassets Mining The tax authorities stated that mining or forging (creation) of cryptoassets is an exempt activity. This is

Italy updates companies subject to VAT split payments

29 October 2022 in

EU VAT

Anti-VAT fraud VAT splitting measure The Italian Department of Finance has extend the list of companies which suppliers must apply VAT split payments on. This requires suppliers to pay the VAT element of their sales invoice into special, blocked VAT bank accounts with the tax

Italy update on VAT and Crypto assets

17 October 2022 in

cryptocurrency

Exemption for tokens and mining from rulings Italy has confirmed that both crypto utility tokens and mining are exempt from VAT. This follows EU VAT Committee crypto asset VAT preliminary review. . Sign-up to our free VAT newsletter . In two rulings, the following guidance

Italy extends again gas VAT cut to 5% until 31 December 2022

16 August 2022 in

COVID-19

Third extension of gas VAT cuts until 31 December 2022 as inflation hits 7.9% in July 2022 Italy has extended for the forth time the temporary cut in Value Added Tax rate on domestic and industrial use gas until the year end. Italian inflation has

Italy considers emergency food VAT cuts

26 July 2022 in

Inflation

July 8% inflation prompts proposals to cut VAT rate on range of foods As inflation hit a 36-year high in July at 8% (June 6.8%), the government is considering a range of temporary VAT rate cuts: Bread and pasta cut to zero VAT rate; and

Italy rolls over domestic gas VAT cut to 5% until 30 September 2022

4 July 2022 in

COVID-19

Third extension of gas VAT cuts until 30 September 2022 as inflation hits 8% in June 2022 Italy has extended for the third time the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 September 2022. Italian inflation has

Italy completes mandatory fiscal cash registers July 2022

22 April 2022 in

certified cash register

Most retailers must have adopted electronic Point-of-Sale machines for VAT reporting by 1 July 2022 Italy is enforcing the adoption of electronic cash registers which the capability to make automated daily transaction reports to the tax authorities. All retailers above the further reduced threshold will

Italy rolls over domestic gas VAT cut to 5% until 30 Jun 2022

5 March 2022 in

COVID-19

Second extension of gas VAT cuts until 30 June 2022 as inflation hits 5.7% Italy has extended the temporary cut in Value Added Tax rate on domestic and industrial use gas until 30 June 2022. The cut was initially introduced between October and December 2021,

Italian VAT updates

7 January 2022 in

Italy

Reductions in cash settlements limited; tightening electronic payment fine regime Italy’s latest law decree (Number 146) entered into law last month and included a number of changes to the Value Added Tax rules. This included: Reduction of cash settlements limit from €2,000 to €1,000. This

Italy SdI cross-border reporting & Esterometro withdrawal delay to July 2022

3 December 2021 in

e-invoice

Six-month postponement for live e-invoicing extension to cross border transactions; Esterometro fling withdrawal Italy is extending its Sistema di Interscambio (SdI) live e-invoicing regime to cover cross-border transactions from 1 July 2022 – delayed from 1 January 2022. Italy’s Agenzia Entrate will withdraw the quarterly Esterometro

Category: Italy