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e-Invoicing: from January to November, false VAT credits for €945 million out of €104.7 billion in payments were detected and blocked

After one year from the entry into force of the obligation of electronic invoicing between individuals , it is time to make the first budget. According to research by the Digital B2b Observatory of the School of Management of the Politecnico di Milano , in the past twelve months 2.09 billion electronic invoices they passed through the Exchange System (ES), sent by 3.9 million companies, equal to 78% of the total. 55% is destined to private subjects (B2b), 44% to final consumers (B2c), l 1% to the PA (B2g). Almost 60% was issued by companies from Northern Italy (34% in Lombardy) and 47% comes from the wholesale and retail and utility sectors. Large companies sent 57% of invoices, SMEs 23%, micro enterprises and sole proprietorships the remaining 20%.

After a year of electronic invoicing, the first benefits in combating tax evasion begin to appear: from January to November, false VAT credits for 945 million euros out  of 104.7 billion euros in payments were identified and blocked . In these 11 months, payments increased by 3.6% compared to 2018,  with an increase attributable to electronic invoicing  estimated between € 0.9 and 1.4 billion between January and June 2019 .

The regulatory obligation linked to electronic invoicing has also driven the growth of B2b eCommerce  – the value of orders exchanged via digital tools between Italian companies – which reaches a value of 410 billion euros, equal to 19% of the total turnover between companies ( 2,200 billion). 2016 (the year following the introduction of electronic invoicing to the PA) and 2019 are in fact the periods that recorded the highest growth, respectively + 19% and + 14%, against an average annual increase of 11% . The automotive sector is confirmed as the most digitized sector, with 24% of the exchanges generated, followed by large consumption (19%) and pharmaceuticals (5%). The digital transactions between Italian and foreign companies are instead worth 134 billion euros, 27% of the B2b foreign transaction (500 billion), with the automotive sector as the first sector (26%), followed by textiles-clothing (15%) and mechanics (11%).

Source: businesspeople.it

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