August 10 – VAT payers may decide to gradually repay VAT liabilities incurred during the coronavirus crisis. The payment schedule is as follows:
Four monthly installments of 50% of the commitment payable from September to December 2020.
Twenty-four monthly installments for the remaining 50% until December 2022.
June 17 – Media reports that ministers are considering lowering the Italian VAT rate to support the economy during the COVID-19 crisis.
June 15 – VAT payments may be delayed until 16th of September for certain VAT obligations. Small businesses (less than EUR 50 million in turnover) that experienced a 33% decrease in revenue between March and April compared to the same period in 2019. For larger companies above EUR 50 million, the turnover must be 50% or more. Micro-enterprises (turnover below EUR 2 million), tourism and sports are lagging behind overall.
June 3 – Italy will postpone the introduction of a new sugar tax to early 2021.
May 28 – Italy will delay the introduction of pre-filled VAT returns for resident companies from July 1, 2020. Until January 1, 2021, the 2020 annual VAT return will be pre-filled.
May 15 – Italy gave up plans to raise VAT to 25% from January 1, 2021. VAT payment deadlines for March, April and May for small businesses have been extended to September 16
May 7 – Italy extended the possibility of submitting VAT returns and annual returns until June 30 for non-resident companies.
April 23 – SdI Real-Time Invoice Reporting Technical Requirements update starting October 1, 2020, will only be effective until December 31, 2020.
April 9 – the regulation of the Council of Ministers on liquidity announces delays in VAT returns for April and May, which may be postponed until 30th of June. Repayments can be made under a payment plan of up to 5 months. Small businesses (less than € 50 million in turnover) must see a 33% or more drop in revenue from March; Large firms above this threshold must show a decline of 50% or more. Businesses must show a 33% greater drop in revenue in certain regions.
April 7 – The Italian Tax Office confirms that non-resident VAT payers have not received late VAT refunds or payments.
March 17 – VAT payments due until 16th of March are delayed until 20th of March for companies with a turnover of around € 2 million per year. This only applies to resident taxpayers. All applications are postponed until 30th of June, including the 2019 annual VAT return.
Specific terms are introduced for tourism, culture, transport, catering, sports and similar sectors.
For further updates, in the case of non-resident enterprises, the annual declaration for 2019 is due by 30th of April, 2020. The VAT declaration for the first quarter should be submitted by 1st of June, 2020. The relevant Intrastat declaration must be submitted by 27th of April, 2020.
Businesses can apply for a five-month payment plan instead.
Italian agency Agenzia Entrate announced last week the suspension of the tax and value added tax system in response to the worsening situation of the Covid-19 coronavirus.
August 10 – VAT payers may decide to gradually repay VAT liabilities incurred during the coronavirus crisis. The payment schedule is as follows:
Four monthly installments of 50% of the commitment payable from September to December 2020.
Twenty-four monthly installments for the remaining 50% until December 2022.
June 17 – Media reports that ministers are considering lowering the Italian VAT rate to support the economy during the COVID-19 crisis.
June 15 – VAT payments may be delayed until 16th of September for certain VAT obligations. Small businesses (less than EUR 50 million in turnover) that experienced a 33% decrease in revenue between March and April compared to the same period in 2019. For larger companies above EUR 50 million, the turnover must be 50% or more. Micro-enterprises (turnover below EUR 2 million), tourism and sports are lagging behind overall.
June 3 – Italy will postpone the introduction of a new sugar tax to early 2021.
May 28 – Italy will delay the introduction of pre-filled VAT returns for resident companies from July 1, 2020. Until January 1, 2021, the 2020 annual VAT return will be pre-filled.
May 15 – Italy gave up plans to raise VAT to 25% from January 1, 2021. VAT payment deadlines for March, April and May for small businesses have been extended to September 16
May 7 – Italy extended the possibility of submitting VAT returns and annual returns until June 30 for non-resident companies.
April 23 – SdI Real-Time Invoice Reporting Technical Requirements update starting October 1, 2020, will only be effective until December 31, 2020.
April 9 – the regulation of the Council of Ministers on liquidity announces delays in VAT returns for April and May, which may be postponed until 30th of June. Repayments can be made under a payment plan of up to 5 months. Small businesses (less than € 50 million in turnover) must see a 33% or more drop in revenue from March; Large firms above this threshold must show a decline of 50% or more. Businesses must show a 33% greater drop in revenue in certain regions.
April 7 – The Italian Tax Office confirms that non-resident VAT payers have not received late VAT refunds or payments.
March 17 – VAT payments due until 16th of March are delayed until 20th of March for companies with a turnover of around € 2 million per year. This only applies to resident taxpayers. All applications are postponed until 30th of June, including the 2019 annual VAT return.
Specific terms are introduced for tourism, culture, transport, catering, sports and similar sectors.
For further updates, in the case of non-resident enterprises, the annual declaration for 2019 is due by 30th of April, 2020. The VAT declaration for the first quarter should be submitted by 1st of June, 2020. The relevant Intrastat declaration must be submitted by 27th of April, 2020.
Businesses can apply for a five-month payment plan instead.
Italian agency Agenzia Entrate announced last week the suspension of the tax and value added tax system in response to the worsening situation of the Covid-19 coronavirus.
Recent entries
Category
Archive
Contact
Tick EU Sp. z o.o
ul. Sielawy, nr 21A/5
61-612 Poznań
E-mail: support@tickeu.com
Search
About me
Justyna Urbaniak
Co-founder of the Tick company. I write a blog for you about VAT issues and more. We invite you to read and follow our posts ;-).
Popular Post
Finland – Starting from September 1, 2024,
30th August 2024Changes at Amazon for European Online Sellers
23rd August 2024Slovenia Intends to Implement B2B E-Invoicing and
16th August 2024Popular Categories
Archives