- Following Brexit, Italian/UK traders seeking refunds of value-added tax (VAT) paid on business purchases were required to appoint local VAT representatives in the UK/Italy.
- Under a reciprocity agreement signed on 7 February 2024, Italian/UK traders are now allowed to claim a VAT refund in the UK/Italy according to the so called “Thirteenth Directive.”
- The agreement is retroactively effective as from 1 January 2021.\
Source EY
Latest Posts in "Italy"
- Faster VAT Collection: 2026 Budget Law Introduces Automated Assessment for Omitted Declarations
- New 2026 VAT Forms Approved: Changes to Deduction Adjustment Calculation Included
- Approval of 2026 VAT Return Forms and Instructions for 2025 Tax Year Submission
- Foundry Services for Commissioned Artworks Subject to 22% VAT, Not 5% Reduced Rate
- Applicable VAT Rate for Art Foundry Services: 5% or 22% for Commissioned Contemporary Artworks?
