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Italian VAT update

  • Dec 26, 2014 | Richard Asquith

Italian VAT update

The latest Italian VAT Decree contains a range of simplification measures, and was issued at the end of November.

The VAT compliance changes include:

  • Italian companies planning intra-community transactions will now be granted a VIES registration automatically, rather than the current 30-day approval period.
  • Following an order from the European Commission, Italy has dropped the requirement for a bank guarantee or insurance policy in favour of the State for VAT credits below €15,000. Where above this amount, companies may still avoid the need for a guarantee if the can produce a report from a qualified Italian tax lawyer that the credit is worthy.
  • Intrastat filings have been simplified
  • Italian ‘Black Lists’ will only have to be produced on an annual basis for transactions above €10,000
  • The deduction of VAT on freely provided services is to be limited to €26 per supply
  • The requirement on suppliers to secure a letter of intent on sales to regular exports is switched to the regular exporter

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He can be contacted at: He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.