- Italy has published Legislative Decree No. 153 to implement EU Council Directive 2020/284 on combating VAT fraud in cross-border e-commerce.
- The decree aligns Italy’s VAT fraud laws with EU regulations and will be effective from January 1, 2024.
- It provides administrative tools to combat VAT fraud in international e-commerce more effectively.
- Covered payment service providers in Italy are required to maintain electronic records of cross-border payments and beneficiaries every quarter.
- The recordkeeping requirements apply to providers executing more than 25 cross-border payments.
Source: news.bloombergtax.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.
Latest Posts in "Italy"
- VAT Refund on Invoices: When Undue Tax Payments Can Be Reclaimed
- Local Authority Reimbursements for Employee Electoral Mandate Leave Not Subject to VAT
- VAT Refund Denied in Fraud Context After Contract Reclassification
- Italy’s Supreme Court Redefines Territoriality Through Substance
- Upcoming Consolidated VAT Code to streamline regulations
