21 Dec 2021

Latest Global VAT Specialist Group Newsletter looks at delay to the new Italian regulations on e-invoicing for cross border transactions

Latest news from MGI Worldwide CPAAI's Global VAT Specialists

The 2021 Italian Budget Law had originally introduced new regulations on e-invoicing for cross border transactions to become effective as of 1 January 2022. However, these measures have been now been postponed to 1 July 2022.

VAT Specialist Group member Francesco Bartolucci of MGI Studio Pragma sets out the current situation in the latest VAT Newsletter.

Francesco explains

Following a specific amendment approved on 14 December 2021 by the Italian Parliament, during the conversion into law of Law Decree No. 146/2021, it was decided that the introduction of the new e-invoicing regulations will be postponed until July 2022. The conversion law has not yet been published in the Italian Official Gazette; however, no further amendments are expected on this point.

From 1 July 2022, data related to cross border transactions (sales and purchases) must be transmitted to Italian Tax Authorities only through the Interchange System (SDI), using the XML format of e-invoicing:

  • screenshot-2021-12-21-at-094920.png no later than the time invoices are issued, for supply of goods and services towards foreign parties

  • no later than the fifteenth day of the month following that in which the document certifying the transaction is received, or the chargeable event occurs, for purchases from foreign parties

For exports and imports, transmission of data will not be mandatory as long as the transactions are traced by custom declarations. Furthermore, the new measures should not be applicable to non-resident identified in Italy for VAT purposes, directly or through a tax representative.

View the full Global VAT Specialist Newsletter HERE

For further information regarding Italian regulations on E-Invoicing contact Francesco Bartolucci at [email protected]

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