On the 27th of March were approved the legal provisions implementing the MOSS within the Italian legal system …
On the 27th of March were approved the legal provisions implementing the MOSS within the Italian legal system. The articles of the VAT Law Decree n. 633/1972 have been amended according to the VAT Regulation 967/2012/EU and Regulation 1042/2013/EU and the new rules provide the following modifications:
- Articles 7 sexies and 7 septies of the national VAT Act have been modified for TBES in B2C supplies that are going to be taxed at destination.
- Under article 22 of the national VAT Act, it is not mandatory to issue the invoice for TBES in B2C supplies.
- The input VAT linked to TBES supplies carried out by taxable person registered under the MOSS in Italy is not deductible but the refund is allowed for non EU suppliers (article 38 ter. C. 1 bis). For all the other EU suppliers the VAT refund is allowed for the exceeding VAT paid (article 38 bis 3).
- The new rules on control activity of the Tax authority and payment of the tax are provided by articles 54 ter and following.
- The rules for registration and the application of the optional special scheme for TBES (EU and non EU) are set out in article 74 quinquies and following.
- The decree governs also penalties that should be issued for omission of the return or its late submission and also in case of a lower VAT amount declared in the return than the VAT due.
Prof. Paolo Centore