Italy delays Plastic Bag Tax; implements EU Quick Fixes Italy’s Council of Ministers have approved the 2022/24 budget, which included the following VAT and indirect tax measures: Introduce call-off stock amendment per the Four Quick Fixes. Italy was warned by the EU two months ago
Live e-invoicing extends to cross border; Esterometro fling withdrawal Italy is extending its Sistema di Interscambio (SdI) live e-invoicing regime to cover cross-border transactions from 1 January 2022. Italy’s Agenzia Entrate will withdraw the quarterly Esterometro declaration (cross-border sales and purchase invoices) as the listing will now
From 1 January 2022, retailers subject to the 2019 internet-linked cash register transaction reporting – registratore telematico – face new obligations. This applied to all retailers, resident and non-resident, with a turnover above €400,000 per annum. The new requirement oblige eligible retailers to upgrade their
Pre-filled VAT returns for quarter 3, 2021 Building on the success of its Sistema di Interscambio (SdI) e-invoice program, Italy has launched for over two million quarterly-filing resident taxpayers an optional pre-filled VAT returns service. This enables taxpayers to review, modify and approve their VAT
Reducing VAT complexity and fraud The Italian Council of Minister has confirmed proposals to simplify the Italian tax regime by Draghi-Franco reforms, including simplifying the use of reduced VAT rates. The aim is to streamline the number of supplies of goods or services which can
Italy fails to fully implement VAT EU reforms In its monthly listing of EU law infringements, the European Commission has called out Italy for failing to fully implement the 2020 VAT Four Quick Fixes. The four reforms were intended to harmonise and simplify the B2B
Italy’s latest Value Added Tax compliance relaxation will give VAT-registered businesses additional time to remit any due payments. VAT payments to 15 September 2021 The one-month concessions are as follows: 15 August 2021 payment deadline is now extended to 15 September Option to apply for
Italy has extended the June payment deadline of VAT liabilities until 20 July 2021. The original deadline was 30 June 2021. Most VAT payers in Italy report quarterly. But payments for VAT should be made monthly. In addition to Value Added Tax obligations, the delays has
Italy is to loosen the requirements on taxpayers to reclaim output VAT on invoices which have subsequently not been paid by customers – bad debts. Currently, taxpayers may only reclaim VAT paid on bad debts once their customer has been declared bankrupt by the Italian
Italy’s Agenzia delle Entrate tax authorities have delayed the upgrade of VAT cash register until 1 October 2021 due to the COVID-19 virus emergency. Mandated certified online registers with daily invoice reporting were introduced from July 2019 for retailers with turnover above €400,000 per annum.
