VAT News

Proposed compliance changes in Italy

Currently, businesses registered for Italian VAT are required to make monthly or quarterly VAT payments to the Italian tax authorities, but there is no formal VAT filings that must accompany these.

A proposal put forward would see businesses required to submit filings on a quarterly basis, with a submission deadline of 2 months following the VAT period end.

In addition, proposals have been made which would see the blacklist filing abolished (this filing requires transactions with customers in certain countries to be declared), together with the quarterly intrastat filings for purchases of goods, and the purchase of services.

Furthermore, the deadline for submission of the annual filing will be brought forward from 30 September of the year following the period, to 28 February.

These proposals should be confirmed in due course.

Related articles

Making Sense of Making Tax Digital

Making Tax Digital (MTD) is an initiative by HMRC to provide a more technologically-driven approach to tax in order to improve efficiency, reduce errors, increase transparency and streamline processes.

Read more
South Dakota vs Wayfair Inc.

To combat the inequality, South Dakota brought a case against Wayfair Inc which said that even if the supplier had no physical nexus in the classic sense, they should still collect and remit sales tax on online sales, to level the playing field with suppliers who do have a nexus.

Read more
Russia-VAT rate increase

The Russian standard rate is to increase

Read more