Italy precompleted VAT returns July 2020
- Nov 3, 2019 | Richard Asquith
Italy is proposing to offer resident VAT registered business pre-completed VAT returns from 1 July 2020. The measure has been introduced in a new law decree, gazetted on 26 October.
The Italian tax authorities, Agenzia delle Entrate, will create VAT ledgers and draft quarterly VAT returns for Italian resident entities only. These will be based on transactions processed through the SdI e-invoicing system, Esterometro and daily online cash till reports. Businesses will be able to review and amend the return before approval.
Non-resident Italian VAT-registered businesses will still be obliged to complete and submit their VAT returns as currently. The measure will be extended to Annual Return in 2021.
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