- The Italian Revenue Agency has extended the application of the direct refund article to operations with the United Kingdom, effective retroactively from January 1, 2021.
- The United Kingdom is now considered a third country in relation to the European Union after the Brexit agreement.
- Prior to the reciprocity agreement, British companies faced complex procedures to claim VAT refunds in Italy due to the lack of reciprocity between the two countries.
- The reciprocity agreement allows for VAT refunds to be claimed between Italy and the United Kingdom starting from January 1, 2021.
- Italian entities can request VAT refunds from the UK, while UK entities can request refunds based on specific criteria outlined in the agreement.
- Refund requests must be submitted according to specific procedures outlined by the Italian Revenue Agency within six months of the request.
Source: ayming.it
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
