Italy Intrastat amendments
- European News
- 26 February 2015 | Richard Asquith
The Italian customs office has updated the requirements for Intrastat reporting.
From the start of 2015, for each cross-border movement of goods or services the only information required will be:
- The VAT number of the customer dispatching/acquiring the goods
- The value of the goods transmitted
- The country of the customer
- The ID of the goods or services provided
Italian Intrastat reporting details any intra-community supply and acquisitions of goods or services. They are filed quarterly for companies with less than €50,000 of supplies per annum; and monthly for any company above that Intrastat threshold. They are filed by the 25th of the month following the end of the reporting period.
Intrastat helps the EU member states track the movement of goods within the EU Single Market. It was introduced in 1993 with the ending of internal customs borders in the EU. Aside from helping to understand levels of trade between member states, it increasingly is used to help combat VAT fraud.