The deadline is set by the new Stability Law, approved by the Council of Ministers on July 14, 2022. The law provides for a gradual reduction of VAT rates on certain goods and services, in line with the EU directives.
The reform would see a reduction in the standard VAT rate from 22% to 20%, and the introduction of a new reduced rate of 5% for certain goods and services. The government has said that it is committed to implementing the reform, but has not yet announced how it will be financed. The reform is expected to have a significant impact on businesses and consumers, and is likely to be a major political issue in the run-up to the next general election.
Source: eutekne.info
Latest Posts in "Italy"
- Exemption from guarantee for VAT credit offset in group VAT settlement
- 5% VAT Rate Introduced for Certain Social and Healthcare Services by Social Enterprises
- Professional Fees and Client Transfers: Taxation and VAT Implications for Self-Employed Income
- Tax Audits: Supreme Court Restores VAT Neutrality, Allowing Deductions Even for Total Evaders
- Italy Clarifies 10% VAT for Waste Services, Educational Building Construction; TARI, Design Excluded
