- Italy confirms bank guarantee requirements for VAT registered non-EU companies
- New regulations affect non-EU companies involved in intra-EU trade with Italy
- Businesses must register in the VAT Information Exchange System (VIES)
- Non-EU entities performing intra-EU transactions must provide a €50,000 financial guarantee
- Guarantee must be valid for at least 36 months
- Non-compliance will result in closure of VAT numbers or cancellation of VIES registration
- 60-day grace period given for rectifying any issues before penalties are enforced
Source: fiscalsolutions.co.uk
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.
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