Italy
Italy is one of the 27 Member States of the European Union.
Basic VAcTs
Latest update | 01.06.2024 |
Country ISO Code | IT |
EU Member State | Yes |
VAT Rates | |
Standard VAT Rate | 22% |
Reduced VAT Rate | 10% |
Special Reduced VAT Rate |
4% + 5% |
VAT Compliance | |
Standard VAT Return filing period | Monthly or calendar quarter + Annual Return |
Standard VAT Return filing deadline | Last day of the second month following the filing period |
VAT Representation required for non-resident |
Yes, mandatory for non-EU businesses |
Record retention period | 5 years (commercially 10 years) |
Electronic invoicing | Yes, mandatory for B2B transactions (under conditions) |
Real-time reporting | Yes |
Special Rules | |
General domestic reverse charge for domestic supplies of goods by non-resident businesses? |
Yes, domestic supplies of goods by non-resident businesses to VAT registered B2B customers |
Other domestic reverse charge mechanisms? | Yes, e.g. (sub-)contracting work, supplies of specific goods (e.g. scrap, waste materials), and supply of CO2-certificates |
Postponed Accounting on Import | No |
VAT Grouping possible? | Yes |
VAT Refunds for non-EU businesses? | Israel, Norway, and Switzerland |
Remarks | |
Link to VAT Law | HERE |
Remarks | Split-payment system may apply |
Here's an overview of the latest VAT news for this country.