- Italian tax authorities are removing Italian VAT numbers of non-EU companies from VIES due to non-compliance with new VAT guarantee requirements. Affected businesses are receiving official removal warnings. Consequences include administrative penalties, potential criminal procedures, reputational damage, and inability to conduct intra-community trade with Italy. Non-EU businesses must provide a financial guarantee, such as government-backed securities, bank guarantees, or insurance surety bonds, with a minimum value of €50,000. The deadline for submission was 13 June 2025, and removals are now underway.
Source: globalvatcompliance.com
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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