- Legislative Decree No. 10/2026 introduces a new consolidated VAT Act that reorganizes and renumbers existing VAT rules, but makes no substantive changes.
- The new VAT Act consolidates provisions from Presidential Decree No. 633/1972 and Law Decree No. 331/1993 into 171 articles across 18 headings, plus an appendix with four lists.
- The new framework takes effect on January 1, 2027.
- Taxpayers must update VAT statutory references on invoices and e-invoices to the new article numbers from that date; VAT rates and nature codes remain unchanged.
- ERP/accounting systems and VAT records must be updated, and transitional rules will allow invoices still citing the old decrees to remain valid.
Source: kpmg.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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