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Italy Receives EU Green Light For Real-Time VAT Reporting

by Ulrika Lomas, Tax-News.com, Brussels

01 May 2018


On April 19, 2018, the European Union published in its Official Gazette a Council Implementing Decision (2018/593) to authorize Italy to introduce mandatory electronic reporting obligations on all taxable persons except those small businesses benefiting from an exemption.

The regime would enable the tax agency to better tackle tax fraud, by enabling it to compel traders to submit real-time information through its SdI portal (Sistema di Interscambio).

The derogation will apply from July 1, 2018, until at least December 31, 2021.

TAGS: compliance | tax | small business | business | value added tax (VAT) | VAT legislation | legislation | Italy | trade | VAT compliance matters | Europe

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