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

Italian Government are Preparing for a No-Deal Brexit

Italian authorities have announced their plans ahead of the UK's possible no-deal Brexit departure.

Read more
Introduction of a U.S Consumption Tax Would Raise $3 Trillion

U.S. Consumption Tax of 5% could raise $3 trillion by 2028 says Congressional Budget Office.

Read more
EU Exit - Update from HMRC

HMRC outline important changes to customs procedures and VAT for UK-EU trade that will occur if the UK leaves the EU without a deal.

Read more