- New VAT regime for non-profit organizations in 2024
- Organizations with annual revenues below €65,000 can apply the forfait regime for VAT purposes
- The regime anticipates the effects of article 86 of DLgs. 117/2017, which regulates a forfait regime for commercial activities carried out by non-profit organizations
- The Codice del Terzo settore will become operational for direct taxes after receiving authorization from the European Commission
- Non-profit organizations are exempt from charging and deducting VAT on transactions and are relieved from most obligations under DPR 633/72
- Obligations for electronic invoicing and transmission of payments remain
- The new VAT regime is expected to be applicable from January 1st without the need for specific communications
- The current draft of the VAT declaration does not seem to consider the new regulations.
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
