Knowledge Base: E-commerce Accounting and VAT Compliance


Italy VAT

Date26 May 2017


Reduction to statute of limitations

Resulting from the publication of ‘Manouvrina decree’, the statute of limitations for VAT deduction in Italy has been reduced. Going forward, VAT deduction will only be acceptable by 30th April of the subsequent year. Annual VAT returns are due on this date, hence a purchase invoice will only be deductible until the last day in which the Annual VAT return for the period in which the invoice was incurred, can be submitted.

The statute of limitations covered a much longer period, before these changes, as VAT could be deducted until the 31st December of the fourth year, following the year in which VAT was incurred.

It has now been confirmed that a new quarterly VAT return (‘Comunicazione IVA trimestrale’), after a publication from the Italian tax authorities on 26th March, 2017. It must be submitted in 2017 with the first deadline on 31st May, 2017.

This new VAT return must be submitted by everyone, with the only alteration that quarterly filers must submit only ‘one’ form for the quarter, when monthly filers will have to submit ‘three’ forms denoting to each month of the quarter. This new VAT return will include the following information:

  1. A summary including all basic information of the company;
  2. A ‘VP’ box reporting all the transactions from the local sales and purchases, as well as intra-community transactions (‘liquidazioni’). This box will include the following details:
    • Period referring to the ‘liquidazioni’
    • Total amount of sales and purchases (NET)
    • VAT charged and deducted
    • VAT due, or in credit
    • Any credit to be reported
    • Prepayment

To submit each VAT return, the deadline is fixed on the last day of the second month following each quarter. For 2017, the deadlines are as follows:

  • 1st deadline: 31st May, 2017
  • 2nd deadline: 18th September, 2017
  • 3rd deadline: 30th November 2017
  • 4th deadline: 28th February, 2018

The deadlines for 2018 have still to be confirmed, but will probably match the new quarterly ‘Spesometro’ filing deadlines. Further updates will be provided by amavat Europe in due course.

amavat Europe provides a one-stop-shop solution for VAT obligations within Europe. We assist clients with a single point of contact that speaks their language and handles all VAT related issues with a standard and cost efficient approach.

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International Sales Manager
Customer Relations Consultant for Online Sellers