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In Italy Vat or Value added tax is known as ‘IVA’. In Italy the standard Vat rate is 20%. In Italy VAT is refundable in the following cases as per Italian VAT law (n.633/1972) based on Community provisions


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Vat rate

All goods and a large amount of services whether imported or locally produced are liable to VAT in Italy. VAT is charged on assets and services in Italy including imports into Italy. In Italy the Vat is charged on a non-discriminatory basis.

Vat refund for Non-residents

Non-residents without having any permanent establishment in Italy are required to appoint a representative to implement their rights, accomplish their responsibilities & get deduction for the VAT under the VAT law.

Vat setting

Usually, VAT paid on goods and services obtained or imported within Italy by a taxable person (input VAT), to be utilized by him for business purpose, may be equalized against the VAT due on sales (output VAT).

Italy Vat refund

In Italy Vat or Value added tax is known as ‘IVA’. In Italy the standard Vat rate is 20%. In Italy VAT is refundable in the following cases as per Italian VAT law (n.633/1972) based on Community provisions

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VAT Settling

Usually, VAT paid on goods and services obtained or imported within Italy by a taxable person (input VAT), to be utilized by him for business purpose, may be equalized against the VAT due on sales (output VAT). If you put differently, the input VAT on the acquisition and importation of goods and services is liable for deduction against the output VAT.

The common rule is that all taxable persons should disburse the VAT balance (the excess of the output VAT over the input VAT) on a monthly basis. However, "minor taxpayers" may get the advantages for quarterly tax payment.

If the entrepreneur's output VAT for a particular declaration period remains below than input VAT deduction for that period, the balance must be carried forward to the following declaration period. If any credit balance exists at the end of the calendar year, it is refundable as per opinion of the taxable person (under certain specific conditions), carried over to the next year or transferred to another taxable person.

 
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