Simonetta La Grutta, Partner and Head of VAT, is “contributor” for Italy to the new book “EU VAT Compass 2017/2018” of IBFD, the International Bureau of Fiscal Documentation in Amsterdam.
The book, which is divided into three parts, explains the most important updates on VAT introduced in the EU system. In particular, part one reports the content of Directive 2006/112/EC, as amended by recent Directive 2016/1065.
Part two includes an overview of over 800 preliminary rulings issued by the European Court of Justice on VAT, examining also outstanding cases which are expected to be closed by the end of 2018.
Part three deals with measures taken by single Member states concerning VAT by making use of the options provided for by Directive 2006/112/EC and of exceptions granted by art. 395 of the same Directive.
The contribution by Simonetta La Grutta is contained in part three of the book.
It concerns the regulations introduced in the Italian VAT system, benefitting from the options provided for by EU legislation as, for example, the application of the reduced 5% rate to specific goods and services, the introduction of the VAT Group as sole entity subject to VAT as an alternative to the so-called “VAT Group settlement” scheme, the application of tax according to the provisions on split payment for transactions carried out towards subject deemed as reliable, the use – in particular sectors – of the reverse charge mechanism as anti-avoidance measure, etc.