Italian Ministry of Finance announced that the country increased the VAT thresholds that determine how often VAT has to be paid. In Italy, the tax is known as the IVA — Imposta sul valore aggiunto.
The affected thresholds were:
- the supplies of services turnover threshold of EUR 400 000 — lifted to EUR 500 000;
- the supplies of goods turnover threshold of EUR 700 000 — raised to EUR 800 000.
Source: 1stopvat.com
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