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 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 …


Worldwide

VAT Reporting update 17.12.1

January 13th, 2018

Overview This release is a maintenance release of the VAT Reporting application for December 2017. It includes new reports for 2017 yearly filings and changes for 2018 and bug fixes. Main changes in Reports The following countries have been released for 2018: CY, LV, NL, SI, CZ, GR (GREZ), FI, AT, DE, EE, HU, LU, …


Italy

Italy Spesometro 2018 update

November 17th, 2017

Italy has changed the reporting frequency for 2018 invoice listing (or ‘VAT Books’) submission (formerly ‘Spesometro’) from quarterly to bi-annually. There will also be various simplifications of the data required – details of sales and purchase VAT invoices. The filing will be scraped in 2019 with the introduction of electronic invoices.


Italy

Italy VAT rises to 24.2% 2019

November 11th, 2017

Italy’s 2018 Budget (Manovra), ratified on 31 October, confirmed a postponement of the 2018 VAT increase from 22% to 24.2%. The planned rises in rates, to support € currency fiscal targets, are now set as follows:


Italy

Italy electronic invoices compulsory 2019

October 22nd, 2017

Italy is to require all private tax payers to produce electronic invoices from the 1 January 2019.  A number of sectors, including the oil industry, will start from January 2018. All sales invoices to public bodies have been required in electronic format only since 2014.  Invoices must be provided in XML which can be accepted …


Italy

Italy cancels 2018 VAT rise

October 20th, 2017

The Italian Council of Ministers have overturned plans to raise the Italian VAT rate from 22% to 25% on 1 January 2018. The reduced VAT will also remain at its current level, 10%, instead of a planned rise to 11.14%. In the draft 2018 Budget Law there had been a provision to raise the VAT …


Italy

Italy delays VAT invoice listing again

October 5th, 2017

Italy has again postponed the deadline for the submission of the invoice listing – the Spesometro. The new deadline is 16 October 2017. This declaration covers the first six months of 2017. In addition to the quarterly VAT return, a quarterly invoice listing, Spesometro, is due in Italy.  This has replaced the previously annual Spesometro …