Intragroup VAT Offsetting: Guarantee Requirement Applies Only From When Guarantee Is Provided

• The Italian Revenue Agency clarified conditions for exemption from providing a guarantee in group VAT settlements.
• The two-year activity period for guarantee exemption starts from the actual commencement of business, not from the first import or VAT identification.
• For intra-group VAT compensation, the requirement to provide a guarantee is assessed at the date of the VAT return submission.
• It is possible to avoid providing a guarantee by submitting an amended VAT return with the required certifications, provided no tax audits or investigations have started.
• Providing the guarantee by the VAT return deadline is essential for the validity of the compensation procedure.

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.

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