Knowledge Base: E-commerce Accounting and VAT Compliance


ITALIAN VAT – Changes to VAT filings

From 1st January, 2017, Italy has authorised (Law Decree 193) which is to introduce widespread new VAT filing requirements.

Annual 2018 VAT Filing
The 2017 Annual VAT return is now due by 30th April, 2018. The 2016 filing deadline is 28th February, 2017.

Quarterly VAT returns
Italy has introduced a new requirement for quarterly VAT filings. Presently, VAT registered businesses only make monthly or quarterly Vat payments, minus supportive filings. Whether the VAT reporting deadline is due monthly or quarterly, will be the last day of the second month, following the quarter end. Still to be confirmed – payments of VAT will remain on a monthly basis.

Quarterly invoice listing will replace Spesometro filing
Annual Spesometro filings of sales and purchase invoices, which includes intra-Community supplies and exports/imports, will now become a quarterly requirement. The information that will be required includes: The name of customers or vendors; date; invoice numbers; taxable amount and the calculation; details of the transaction.

The last day of the second month, after the quarter end, will be the filing deadline. To allow businesses to prepare for the new requirements, the 25th July, 2017 will be the first filing, this will cover quarters 1 and 2.

Intrastat declarations are ended
From the start of 2017, the requirement for a monthly listing of intra-Community acquisitions of goods and services is to be ended. But the arrivals report must still be completed. The information on cross-border transactions will instead be provided by the quarterly invoice listing.

Blacklist filings are ended
The annual Blacklist filing by businesses detailing all their transactions with countries that are on the black list, is to be ended also.

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