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 a four-part instalment payment plan (see below) for the above payments after 15 September
- There is no interest or penalty due on delaying remittance to 15 September; but there will be interest on the deferred payment scheme if taken up.
The subsequent equal instalments will be phased as following:
- 1 – 15 September – 0% interest
- 2 – 16 September – 0.01% interest
- 3 – 18 October – 0.34% interest
- 4 – 16 November – 0.67% interest
Italian VAT returns are mostly due on a quarterly basis. However, payments are due on a monthly basis by the 15th of the month following the month of the relevant taxable supplies.