Blog

Italy and San Marino: Steps to clearance customs regimes?

Since 1993, supplies performed between Italy and San Marino have been accompanied by a set of customs obligations. These include the submission of paperwork to both countries’ tax authorities. After the introduction of the Italian e-invoicing mandate in 2019, Italy and San Marino started negotiations to expand the use of e-invoices in cross-border transactions between […]

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How Insurers Can Prepare for Annual Reporting Requirements

Some European tax authorities require annual insurance premium tax (IPT) reports to be submitted for the calendar year in addition to regular monthly or quarterly reporting. Annual reports usually require significant detail, making the process time consuming and labour intensive for insurers. Annual reporting requirements vary from country to country, making it complex for cross-border […]

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Italy Postpones E-Document Legislation

In September 2020, Italy introduced major changes to the country’s rules on the creation and preservation of electronic documents. These new requirements were expected to be enforced on 7 June 2021. However the Agency for Digital Italy (AGID) has now decided to postpone the introduction of the new e-document rules until 1 January 2022. The […]

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Italy: A New Way to Report Cross-Border Invoices

When Italy introduced its mandatory e-invoicing system, cross-border invoices weren’t included in the scope of the reform. To introduce the mandate, Italy asked the European Council for a derogation from the VAT Directive and the country was granted permission for the introduction of a mandatory clearance system for domestic transactions performed between Italian taxpayers. It’s […]

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Italy: Understanding the New E-Document Legislation Requirements

In September 2020, the Agency for Digital Italy (AGID) introduced new requirements for the creation and preservation of electronic documents, which will be enforced from 7 June 2021. This blog discusses the requirements and how they affect the issuance and storage of e-invoices. Electronic Documents in Italy The AGID is responsible for the Italian digital […]

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EESPA Standard: E-Invoicing Compliance Definitions and Responsibility Allocation Framework

EESPA, the European E-invoicing Service Providers Association, recently published EESPA Standard Definitions for Legally Compliant Electronic Invoicing and their usage. This document aims to provide a basis for e-invoicing service providers and their customers to agree on allocation of responsibility of the legal compliance of processes supported by the services. These standard definitions will contribute […]

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Italian Tax Controls: Five Key Facts to Know Before the New Year

While Italy rolled out its continuous transaction controls (CTC) reform in 2019, 2020 has been a year of expansion. Italian authorities plan to leverage all potential benefits of the successful implementation of the country’s central e-invoicing platform. Many of the updates will either be launched or enforced in the upcoming year, or later in 2022. […]

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Italy: New E-Archiving Requirements in 2021

Italy has been at the forefront when it comes to the introduction of continuous transaction controls (CTC) in the EU, and it still leads the way as other European countries look to Italy for inspiration on their local CTC implementations. But even before the introduction of its clearance e-invoicing system in 2018, the country had […]

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Italian Parafiscal Complexities

Premium tax and parafiscal compliance for insurers authorised to operate under the Italian regime can be challenging. For the experienced, it may seem that each year brings a different obligation to be met with new requirements often being introduced. There are almost always links between an upcoming year’s reporting requirements and declarations made in previous […]

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Beyond Tax Reliefs: The Impact of Covid-19 on E-Archiving

The economic impact and consequences of coronavirus are unprecedented as it spreads across different countries. To protect their markets, many countries have reacted by loosening obligations and lowering rates. While most of these initiatives have an immediate impact on a business’s cashflow and are welcome they also, in many cases, have a long-term impact on […]

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B2B Transaction Automation Platforms: Quantifying the VAT Compliance Advantage

In the past five years, transaction automation platform vendors who embraced e-invoicing and e-archiving compliance as integral to their services grew on average approximately 2.5 to 5 times faster than the market. Two decades of EU e-invoicing: many options, different models Until 1 January 2019, when Italy became the first European country to mandate B2B […]

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EU VAT Measures in Response to Coronavirus

Countries worldwide are introducing indirect tax measures intended to mitigate the economic consequences of the coronavirus pandemic. Prospective measures by EU Member States include:   Austria Austria has announced that taxpayers can seek elimination of default interest and penalties for late submissions resulting from coronavirus.  Belgium Belgium has announced that businesses encountering financial difficulties can […]

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Italy Publishes New Specifications for the FatturaPA

Anyone predicting Italy’s clearance model e-invoicing system,  FatturaPA, would undergo further reform would be right. Agenzia delle Entrate – AdE, the Italian tax authority, has issued new technical specifications and schemas for Italian B2B and B2G e-invoices. But – what do these changes really mean? And what impact do they have on business processes? Technical […]

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Italy’s e-invoicing reform: A new FatturaPA

Italy has been a pioneer when it comes to automating e-invoicing processes. It first introduced a B2G e-invoicing system in 2014 which has since evolved into a robust and mandatory platform for the exchange of invoices now also expanded to include B2B and B2C transactions. The Italian central e-invoicing platform SDI was considered revolutionary by […]

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Prepare to Pay Taxes on Crypto Held in Foreign Accounts

The Government Accountability Office (GAO), a U.S. Congress watchdog, published a report evaluating the IRS’s approach to regulating virtual currency (crypto) and the guidance it has offered the public. The GAO’s Recommendation However, a portion of the report was directed at the IRS and the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. […]

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From Alignment to Action: Transforming tax compliance on your terms

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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Aligning ERP and Tax: What’s the enterprise upside of tax compliance modernization?

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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Tax & IT: How a Unified Compliance Vision Streamlines Digital Transformation

What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created the “Yes, […]

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