Law Decree 50/2017 introduced new rules on the offset of VAT credits and VAT deduction on purchase invoices
The Italian TA clarified the meaning of “vessels used for navigation on the high seas” to apply VAT exemption.
Law Decree 193/2016 introduced the abolition of INTRASTAT forms to counterbalance the onerousness of new fulfilments.
Art. 4 of Law Decree n. 193/2016, turned into Law n. 225/2016 provides for instructions on tax recovery, which imply new obligations for taxpayers, particularly concerning VAT.
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.
