Italy

Italy withdraws VAT split payments

July 9th, 2018

Italy’s Minister for Economic Development has said that anti-VAT fraud split payments regime will be abolished for professional service transactions to government. Italian split payments involve customers paying the VAT element of invoices directly to the tax authorities. Split payments are obligatory in Italy for B2G transactions only. This reduces the opportunity for VAT fraud. Italy …


Italy

Italy limits SdI VAT reporting to resident businesses

July 6th, 2018

Italy has confirmed that only Italian resident tax payers will be required to submit real-time e-invoices to the Sistema di Interscambio (SdI) portal. Non-resident Italian registered businesses will continue to file the Spesometro filing. The clarification was issued this week as there was a conflict between the original Italian implementing legislation and the permission granted …


Worldwide

VAT Reporting v18.6.1

June 29th, 2018

Overview This release is a maintenance release of the VAT Reporting application for the month of June. It includes changes in reporting documents, SII updates, modifications in VAT Reporting and bug fixes. Main changes in reports Spain:The Modelo 353 Group Return (PDF) has been added, a consolidated form that is to be submitted by the …


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 …