Italy VAT compliance changes
- Oct 23, 2014 | Richard Asquith
A range of minor changes to the Italian VAT regime have been introduced in recent months. These changes include:
- The annual reporting threshold for the Italian Black List Communication, covering countries where the tax office requires additional information, has been raised to Euro 10,000
- A simplification of the Intrastat filing details
- Removal of the requirement for a bank guarantee for the payment of certain VAT credits
- The ability to request a speeded-up addition to the VAT Information Exchange System (VIES) report
- Opportunity to issue VAT credit notes where taxable sales invoices have remained unpaid.
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 is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.