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,
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
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
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
