Current rules state that purchasers must include a customs certificate (single administrative document) in their purchase value added tax (VAT) register in order to recover import VAT. Customs certificates are transmitted electronically via an “IM” message by the customs and monopolies agency to the taxpayer. However, this certificate will be replaced from 30 November 2022 by a new “recapitulative statement” (prospetto di riepilogo).
Source: KPMG
Latest Posts in "Italy"
- CPB: Early Exemption from Compliance Visa for VAT Credit Offsetting up to 70,000 Euros
- 10% VAT Applies to Musical Entertainment Accessory to Restaurant Services, Rules Italian Supreme Court
- Deductibility of Non-Deductible Pro Rata VAT: Cash or Accrual Basis for Businesses?
- Expense Recharging Between Unassociated Professionals: VAT Rules and Invoicing Obligations Explained
- EU VAT Showdown: Is User Data a Taxable Payment for Free Digital Services?
