VATupdate

European Commission authorizes Italy to apply mandatory B2B E-Invoicing till end of 2024

According to the estimates provided by Italy, the implementation of mandatory e-invoicing has improved VAT compliance in around EUR 2 billion.

It has also allowed to obtain another EUR 580 million indirectly due to additional revenue obtained from the collection of direct taxes. Another EUR 945 million were recovered in 2019 due to actions to identify and stop false VAT credits. The use of electronic invoicing data for the whole of 2019 has also been essential for identifying taxable persons not meeting the requirements for the status of ‘esportatore abituale’ (over EUR 1.3 billion in false ceilings declared).

Finally, the information obtained has allowed the identification of companies involved in intraCommunity fraud mechanisms carried out between the last months of 2019 and 2020, based on invoicing flows for non-existent transactions amounting to around EUR 1 billion.

Source

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