Invoicing In Italy - New Rules From 2013

Author:Batini Colombo Saottinis' Compliance Team
Profession:Batini Colombo Saottini
 
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  1. INTRODUCTION

    Starting from January 1st 2013 new rules have been enforced for the invoicing procedure. With this monograph we'd like to analyse the main news (comparing them with former rules) and we grab the occasion to make a summary of the entire invoicing process. Probably some additional details will be provided when official clarifications will be issued by relevant authorities.

    We'd like to remind that some information (such as the essential elements to be included in the invoice) are relevant for all businesses, while others will be relevant just for some of them (i.e. for what concerns exchanges with foreign clients).

  2. INVOICE'S NEW CONTENTS AND ITEMS

    The new rules affect article 21 of the Italian Republic Presidential Decree nr. 633/1972 (know also as VAT General Law) and in particular the essential items that have to be included in every invoice. Exchanges made in a single day toward the same customer, can be summarised in a single invoice. The invoice, on paper or electronic, is considered as issued at the time of its delivery, posting, transmission to the customer or in any case when it becomes available for the customer.

    Here below you can find the essential/mandatory items that have to be included in every invoice.

    1. Date of issuing

    2. Identification number (please note that this hasn't now necessarily to restart every year)

      c Information that identify the issuer/supplier

      Exact name of the supplier Name and surname in case of individual business Residence or domicile address of the supplier, of the Fiscal Representative (if any) and the exact address of the Italian office in case of permanent establishments of foreign legal entities d) VAT identification number (released by the Italian VAT Authority) of the supplier

    3. Information that identify the customer

      Exact name of the customer Name and surname in case of individual business Residence or domicile address of the customer, of the Fiscal Representative (if any) and the exact address of the Italian office in case of permanent establishments of foreign legal entities f) VAT identification number (released by the Italian VAT Authority) of the customer or of its Fiscal Representative in Italy (if any).

      or,

    4. In case the customer is a VAT subject in another member state of the European Union, VAT identification number as obtained from the domestic authority

    5. In case the customer is an individual (not a business), its tax code as obtained from the domestic tax authority

    6. nature, quality and quantity of goods and/or services sold (in case of more that one VAT rate applicable, goods and services have to divided according the applicable rate)

    7. amounts and other information useful to determine the VAT taxable amount, including discounts, allowances or rebates under article 15, first sentence, paragraph 2 of the Republic Presidential Decree 633/1972

      (in case of more that one VAT rate applicable, goods and services have to divided according the applicable rate)

    8. amounts related to discounts, allowances or rebates

    9. VAT rate, taxable amount and VAT amount rounded at Euro's cents

      (in case of more that one VAT rate applicable, goods and services have to divided according the applicable rate)

    10. only for vehicles' sales date of the first matriculation or registration in public registers and number of kilometres, sailing or flying hours in case of exchanges of new vehicles' within the European Union.

  3. WHEN THE INVOICE IS MANDATORY

    Invoice has to be issued with relation to some particular exchanges even when the amount is not subject to VAT; those invoices must include some specific indications, while the reference law is discretionary although suggested.

    Starting from 2013 there are additional cases when the invoice becomes mandatory and a specific description on the exemption from VAT must be included.

    To this extent management softwares have to be updated according the following schedule.

    Case

    COMPULSORY description

    Discretionary law reference

    Sales of goods in transit or stored in places under customs' surveillance

    Exchange not subject to VAT (out of the scope of VAT)

    art. 7-bis, paragraph 1, DPR 633/1972

    Sales for export

    Exchange not...

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