- Italy plans to submit a report to the European Commission in September 2024 evaluating the effectiveness of the split payment regime.
- The European Commission has granted Italy a derogation until 30 June 2026 for the special measures of the value-added tax system, with the exception of gradually phasing out the special measure by 1 July 2025.
- The scope will be restricted to exclude supplies to companies listed on the stock exchange included in the FTSE MIB index.
- This extension will allow affected taxpayers to make necessary adjustments and local authorities to consider alternative measures.
- The split payment regime requires the VAT amount to be paid by the buyer/recipient of the invoice to the tax authorities, helping combat tax fraud and evasion. It is uncertain if the report will lead to another extension of the timelines.
Source Pagero
Latest Posts in "Italy"
- Italian Supreme Court: A Genuine Portuguese Establishment Puts B2B Services Outside Italian VAT
- Italian Supreme Court: Loss-Compensating Transport Subsidies Fall Outside the VAT Base
- Business Interruption Does Not Justify VAT Refund Claim
- VIES Revocation Doesn’t Require Final Fraud Assessment, Cassation Rules
- Italy’s Council of Ministers Green-Lights ViDA Platform Rules, VAT Deduction Deadline Extension and Fuel Relief
