Italy enacts “Relaunch Decree” to manage COVID-19 crisis: Indirect tax implications

VAT rate increases set forth under the 2019 Budget Law have been permanently removed from 2021.

Reduced VAT rate for medical devices and VAT treatment (Art. 124)

Deferral of VAT payments (Art. 126)

Postponement of tax tickets lottery (Art. 141)

Postponement of prepopulated VAT compliance (Art. 142)

Increase of offsetting threshold (Art. 147)

 

Source: EY