- Italy has published the new Consolidated VAT Code (Testo Unico IVA), which reorganizes VAT legislation into a unified framework, following the Council of Ministers’ approval on December 22, 2025. The code entered into force on January 31, 2026, with most provisions applicable from January 1, 2027.
- The reform aims to streamline Italy’s VAT system by merging existing regulations and aligning Italian VAT rules with EU Directive 2006/112/EC. It introduces updates such as modernized export evidence rules for non-taxable exports, consolidated e-invoicing regulations, and digital reporting requirements for daily receipts.
- Businesses have one year to adapt to the new provisions, with recommended actions including revising invoicing and VAT compliance procedures, updating invoice templates, and ensuring proper application of tax rates according to the new code.
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