Italy - Annual VAT return for 2021 released
The Italian tax authority has released the updated Italian Annual VAT return for 2021 ("Modello IVA 2022 - Periodo d’imposta 2021"). The final form and instructions can be downloaded from the tax authority website.
The annual return calculates the Italian taxpayer’s net VAT position for the previous calendar year and any VAT refunds or payments due. In addition to the difference between input VAT (VAT on purchases) and output VAT (VAT on sales), any periodic payments and tax credits resulting from the previous year’s annual return not claimed back or offset against other taxes, are also taken into account.
The annual VAT return must be submitted to the Italian tax authority between February 1, and April 30, 2022 using the appropriate forms and reporting software and submitted online through the Fisconline/Entratel services, directly by the taxpayer or through authorised intermediaries (like Avalara).
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