30 Jan 2023

Latest Global VAT Specialist Group Newsletter provides update on the Italian Finance Bill 2023

The end of the year always brings several tax changes which are important to share. The 2023 Finance Bill (L. 197/2022) provides interesting VAT updates which Francesco Bartolucci of MGI Studio Pragma in Fano, Italy, summarises in the latest Global VAT Specialist Group newsletter.

The main areas of change concern:

  • Changes to Imports formalities
  • New limits for simplified accounting and quarterly VAT payments with the option to pay VAT quarterly (instead of monthly).
  • Modifications on VAT rate applicable to activities such as supplies of methane gas used for combustion for civil and industrial uses, supplies of thermal energy produced with methane gas under an energy service contract and for supplies of district heating services.
  • Cautions on opening a VAT number. Now, under certain circumstances, the Tax Authority can ask for a guarantee in order to open the VAT number.
  • False invoices under reverse charge regime
  • Formal violations - it is now possible to settle formal violations made until 31 October 2022, by paying a penalty of €200 for each fiscal year.
  • Flat Tax Regime for individuals with VAT - the limits for the application of the flat-tax regime (“Regime forfettario”, applicable only by individuals with a VAT number) has been increased from €65.000 to €85.000.
  • Health care services - up to 31 December 2023, electronic invoicing for health care services provided to individuals is still forbidden. Other news related to the health care system is that concerning the obligation to send to the so-called “Sistema Tessera Sanitaria” the information about daily receipts issued by a telematic recorder. This obligation has been postponed to 1 January 2024.

For a more in-depth look into the above, please view the full Global VAT Specialist Newsletter HERE.

For more information about these changes or VAT in general, please contact the relevant VAT Specialist at mgiworld.com/Global VAT Specialist Group.


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