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In 2018 new simplified rules have been introduced for filling-in and submitting Intrastat lists

The day aims at giving full and equal access to women and girls to scientific studies, training and research

The Revenue Office provided clarifications on VAT deductions and recording of purchase invoices

The main news concern guarantee on VAT refunds, repayment of VAT not due and exports for humanitarian purposes

The contribution by Simonetta La Grutta concerns the regulations introduced in the Italian VAT system

Postponement of the deadline for filing electronically the Communication of Invoices Data related to the first semester 2017 from 16 to 28 September.

Mid-year Stability Law 2017 contains provisions affecting the accomplishment of VAT fulfillments from FY 2017

The Italian Budget Law for 2017 provides for the introduction, in the national law, of the “VAT Group” scheme as set forth by art. 11 of EU Directive 2006/112. The following VAT taxable persons are entitled to set up a VAT Group: VAT taxable persons established in Italy and VAT taxable persons running a business activity or performing an art or profession provided that they are closely bound to one another by financial, economic and organizational links.

On 2 December 2016 the Law Decree 22 October 2016 n. 193 (“Tax decree”) completed its legislative iter with the publication in the Official Gazette of the consolidated text, post amendments, occurred at the time of the conversion into Law.

The Council of the European Union accorded Italy an extension to continue applying – up to 31 December 2019 – a special derogation from the provision of Directive 2006/112/CE, concerning the limitations to deduction of VAT borne on the purchase of some kinds of means of transport and on the related expenses. The extension of such limits is aimed at significantly reducing the administrative burden and to prevent tax evasion.

30.000 Euro is the new extended limit up to which the application for refund is allowed without the need of the stamp of approval by an accountant or signature by the statutory auditors as regards those subjects indicated in art. 03-bis, para. 3 of Presidential Decree 633/72, nor of the granting of a financial guarantee by those subjects indicated in art. 38-bis, para. 4 of Presidential Decree 633/72.

The budget bill for 2017, within the “Industry 4.0” strategy, will renew those provisions allowing “super-amortization”, and introduce “hyper-amortisation” for some specific capital goods, in order to incentivize the technological update of Italian businesses, their competition on domestic and international market and, more generally, economic recovery.

The Italian draft Budget Law for 2017 provides for the introduction in the domestic legislation of VAT grouping schemes.

Uncertainty on the stamp of approval in case of Group VAT

Criteria for determining the VATable base of assignments of assets

Charges on bitcoin trade are VAT exempt