No Extension for Italian e-Invoicing!
The Minister says ”No extension for Italy”
Italy: Fiscal Decree No:119
Some of the most important changes within the decree about the upcoming e-invoicing in Italy are described below.
Reduced Penalty regime for mandatory e-invoices
For the first half of 2019, for both suppliers and customers, the penalties will be reduced as follows:
– No penalties will apply if a compliant e-invoice is issued within the deadline for the VAT settlement of the relevant month.
– Penalties will be reduced by 80% if a compliant e-invoice is issued within the deadline for the VAT settlement of the following period.
Invoicing Deadlines and registration of the invoices
The Decree makes two amendments about the invoicing deadlines from 1 July 2019.
– Immediate invoices will have to be issued within 10 days of the tax point (currently immediate invoices must be issued by midnight of the day on which tax point is triggered). However, these invoices must be registered in the related period of the transaction.
– If the invoice is not issued on the tax point date, it should include a reference to the tax point
According to the new rules sales, invoices should be recorded in the outbound VAT ledger by the 15th of the following month (currently this is 15 days after being issued)
Recording of the inbound invoices in the input VAT ledger and VAT recovery time
– Sequential numbering of the purchase invoices will no longer be required
– VAT Protocol number will also be no more required, as SDI will assign a unique ID to the invoices.
– VAT payers can deduct VAT for the invoices which they receive and register till the 15th of the following month (within the same year)
Who are in scope
According to the new wording, the mandatory e-invoice will apply to transactions between parties that are resident or established in Italy.
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