Italy VAT guarantee threshold
- Jan 23, 2017 | Richard Asquith
Italy raises VAT refund guarantee threshold
Italy has raised the VAT refund thresholds above which it requires a certified Italian audit or bank guarantee. The annual threshold is now €30k, up from €15k.
Above this amount, the taxable person most have a certified Italian account review all applicable invoices, and approve them a refundable. Alternatively, the claimer can provide a bank guarantee to receive their refunds.
There is no change to the same limits on credit applications on VAT returns.
Need a fiscal representative in Italy?
Non-EU businesses selling in Italy will need to appoint a fiscal representative alongside completing VAT registration and returns.
Fiscal representatives are responsible for the accurate VAT submissions of their non-EU clients.
Avalara offers a Fiscal Representative Service as part of its international VAT and GST Registration and Returns Service.
Need help with your Italian VAT compliance?
Researching Italian VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.