News and insights

09-04-2020 - COVID-19: Further deferment of VAT payments regarding April and May

Italy has provided an additional postponement concerning VAT payments (DL 23/2020): 
payments due on April 16th and May 16th are postponed until June 30th, for taxpayers that recorded a turnover reduction due to the crisis (requiring different level of turnover reduction, varying from 33% to 50%, depending on the size of taxpayers or the related geographical location) or that had started the business activity after March 31st, 2019.
With regard to tax fulfillments (different from tax payments), formerly adopted provisions remain unchanged (DL 18/2020). VAT fulfillments that normally were be due in the period from March 8th to May 31st (as for instance the yearly VAT return, EC/INTRASTAT forms, etc.) shall be handled by June 30th. 
Considering the literal wording of the respective rules, the above-mentioned postponements do not apply to non-resident companies having a direct VAT identification or a fiscal representative in Italy (see also Circular Letter 8/220, Para 2.4).
No suspension applies to the terms for issuing the invoices, both electronic and (where admitted) paper invoices, also with regard to business activities under lock-down (see Circular Letter 8/2020, Para 1.7).


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