Italy

Italy SdI live invoice update

June 18th, 2018

Italy has opened registrations for online addresses for the purposes of submitting live invoices. The new Italy Sistema di Interscambio (SdI) real-time reporting process becomes mandatory in July for oil companies, and goes compulsory for all companies in January 2019. Tax payers must submit B2B domestic invoices to the Italian tax authorities, which register them …


Italy

Italy turmoil may trigger VAT hike

May 30th, 2018

Italy’s current political turmoil, and potential fresh elections this summer, may trigger a VAT rise to 24.2% in 2019. The standard VAT rate could rise further to up to 25% by 2021. Lack of government could trigger scheduled VAT hikes The potential VAT rise was set in October 2017, and is automatically triggered if the …


Italy

Italy SdI live VAT invoicing update

May 14th, 2018

The Italian tax authorities have issued further details on the 1 January 2019 real-time VAT invoicing regime in Italy, Sistema di Interscambio (SdI). This will require all resident and non-resident VAT payers to electronically submit sales invoice to the authorities before they are then sent to customers. The new technical requirements include: Invoices will be …


Worldwide

VAT Reporting update 18.4.1

May 1st, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month April. It includes changes to reports, modifications and bug fixes. Main changes in Reports Spain – Immediate Filing (SII) We have started to implement changes to support filing of SII V1.1, which will be available from 1st July 2018. Please …


United Kingdom

Digitisation of VAT Reporting

April 5th, 2018

European countries are increasingly demanding detailed electronic VAT transactional reporting from businesses to help them efficiently track tax due and reduce significant tax evasion. This includes: EU SAF-T; Making Tax Digital in the UK; live invoice reporting in Spain, Hungary and Italy; and Control Statements. Many countries have now introduced voluntary and mandatory transaction reporting …


Italy

Italy SdI real-time e-invoices

April 4th, 2018

Italy has introduced mandatory real-time electronic sales invoice issuance and reporting from 1 January 2019. All relevant invoices have to be issued and submitted to the Italian Revenue Agency’s e-invoicing platform, Sistema di Interscambio (SdI). The measure has been required of sales to government bodies since June 2014. SdI effectively acts as an invoice approval portal, ensuring …


Italy

Italy Sistema di Interscambio (SdI) real-time e-invoices

February 20th, 2018

Italy has introduced mandatory real-time electronic sales invoice issuance and reporting from 1 January 2019. All relevant invoices have to be issued and submitted to the Italian Revenue Agency’s e-invoicing platform, Sistema di Interscambio (SdI). The measure has been required of sales to government bodies since June 2014. SdI effectively acts as an invoice approval portal, ensuring …