30 September 2016
In an effort to reduce VAT fraud and also to simplify VAT reporting the Italian tax authorities will offer a voluntary e-invoice reporting regime from 1 January 2017.
By using this scheme businesses will be able to electronically submit their VAT purchase and sales invoice details directly to the tax authorities, who will then use this to calculate the businesses monthly VAT liabilities.
By using this service the registered businesses reporting obligations will be reduced in the country and it will also accelerate VAT credit refund repayments too.
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