The Italian Tax Authorities issued Resolution No. 87/E on July 5, 2017, confirming that a taxable person may amend a previously filed communication even after the 15th day following the day on which the deadline expires. The communication must include sales invoices issued and purchase invoices recorded in the VAT ledger during the period of reference. Invoices for composite supplies of goods and services must be recorded according to the criterion of “prevalence”, i.e. according to the supply with the higher value. Finally, the taxable person may benefit from favorable measures to reduce administrative penalties provided by article 13 of the Legislative Decree No. 471 of 18 December 1997.
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About the Author
Brendan Magauran is a Junior Regulatory Counsel at Sovos Compliance specializing in international taxation, with a focus on Value Added Tax Systems in the European Union. Brendan received his B.A. and J.D. from Washington University in St. Louis and is licensed to practice in New Hampshire and Massachusetts.More Content by Brendan Magauran