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Italy extends VAT on COVID worries

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.

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