VAT returns in Italy
When do you need to submit a VAT return?
Monthly VAT return: businesses with an annual turnover exceeding €700,000 must submit regular VAT returns.
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Quarterly VAT return: Businesses with an annual turnover below €700,000 can opt to pay quarterly
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VAT scope in Italy
VAT registration in Italy
VAT returns and refund in Italy
Italian reverse charge
Italian consignment or
call-off stock
Deadline to submit the French VAT return
The deadline for submitting VAT returns in Italy:
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1) Quarterly VAT Returns: on the last day of the second month following the reporting quarter end
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2) Annual VAT return: 30 April of the following year
Italian intrastat / EC sales list
Consequences of Late VAT Return Filing
Failure to file VAT returns on time can result in penalties for foreign non-established businesses operating in Italy. Late submissions may lead to financial sanctions, interest charges, and potential audits by the tax authorities. Additionally, delayed VAT return filings can impact the business's reputation and create legal implications.
VAT refunds in Italy
VAT credits can be offset against any VAT liability that the business owes to the tax authorities. If the VAT credits exceed the VAT liability, the excess can be carried forward to future periods or refunded.
The refund application is typically submitted electronically through the dedicated online portal of the French tax authorities.