The Grace Period is over in Italy!
It has been more than 6 months now since the Italian taxpayers adapted to the e-Invoicing system.
According to the Agenzia Entrate’s statistics, the number of e-Invoices exceeds 1 billion files, which are transmitted through SDI for the first 6 months.
Italian tax authorities made simplifications for the taxpayers for the first half of 2019 to adapt to the new e-Invoicing system last year with the Decree 119/2018.
Since the so-called “Grace Period” is now over as of 1st of July, it’s time to remind you of the changes and penalties that would apply after then!
With circular letter no:14/E 2019 published on June 17, 2019, authorities provided additional clarifications on e-Invoicing and the reporting of cross-border transactions.
Simplifications During The Grace Period
Reduced Penalty Regime For Mandatory e-Invoices
For the first half of 2019, for both suppliers and customers, the penalties would be reduced as follows:
Invoicing Deadlines & Registration of the Invoices
Recording of the inbound invoices: VAT ledger & VAT recovery time
If there is a mismatch between the date of the transaction and the issue date of the invoice, the taxpayer should enter both of the dates.
However, to overcome the issue to enter both of the dates in the e-invoice, Circular 14/E states that the transaction date should be entered in the date field, instead of the issue date. The issue date, which is the date of transmission to SDI, will be assigned directly by SDI.
Why You Need SAP FatturaPa Foriba Cockpit
Using one reliable platform to manage the exchange of electronic invoices within SAP, is what you need to stay compliant not only in Italy but also in various countries. We deliver 25 different solutions and services in more than 10 countries with regulatory compliance requirements!
For e-Invoicing in Italy, we provide SAP FatturaPa Foriba Cockpit which is useful for;
Here is what you can from SAP FatturaPa Foriba Cockpit;
Additional Foriba SAP Tools for Italy
To learn more about SAP FatturaPa Foriba Cockpit, please feel free to get in contact with us! We are always happy to answer your question to determine your needs to provide the best experience!
EU GDPR certified Regulatory Analysis & Product Manager at Foriba