Italy e-invoice VAT assessments 2017
- European News
- 9 September 2016 | Richard Asquith
Italy is to offer a voluntary e-invoice reporting regime to tax payers from 1 January 2017. The measure is designed to reduce VAT fraud and simplify reporting.
Businesses will be able to electronically submit their VAT purchase and sales invoice details, and have the authorities automatically calculate their monthly VAT liabilities.
Italy’s tax authorities are effectively offering to electronically create, store and send tax payers’ invoices on their behalf. The service is a major step towards the tax authorities taking over the calculation of tax liabilities from companies that currently self-assess their VAT liabilities and report via monthly/quarterly filings.
As an incentive for businesses to use the service, reporting obligations have been reduced – including Intrastat and Blacklist reports. Any VAT credit due a refund will receive an accelerated repayment, too.
On 1 January 2019, Italy will withdraw the requirement for resident and non-resident Italian tax payers to complete the Spesometro quarterly / bi-annual sales and purchase...
Italian VAT registered businesses are due to file their bi-annual Spesometro on 1 October. Italy will be introducing a new e-invoice live invoice SdI reporting...
The Italian authorities have this week turned down a request to delay the scheduled 1 January 2019 introduction of e-invoicing and live reporting, Sistema di Interscambio...