Bank guarantee refund threshold has been raised

The VAT refund thresholds have been raised where it requires a certified Italian audit or bank guarantee, this is up from €15,000 to €30,000.

Most taxable people above this amount have a certified Italian account review on all applicable invoices, and then approve what is refundable. Alternatively, it is possible that the claimer can provide a bank guarantee to receive their refunds.

Credit applications have no change to the limits on VAT returns.