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Italy VAT reclaim guarantee updates


Italy VAT reclaim guarantee updates

The Italian tax office has provided new guidance on the Simplification Decree which changed the rules on Italian VAT reclaims. The new guidance details the following changes:

  • VAT reclaims below €15,000 by foreign companies will no longer require a bank guarantee
  • The €15,000 threshold will no include and VAT suffered
  • The guarantee requirement will not be enforced on outstanding, but not yet refunded VAT recovery claims

VP Global Indirect Tax
Richard Asquith
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.