On 28th of December 2015 Law n. 208/15 was adopted in Italy. The new provisions for 2016 involve also the national VAT legislation …
On 28th of December 2015 Law n. 208/15 was adopted in Italy. The new provisions for 2016 involve also the national VAT legislation, amending some rules, in particular:
- The VAT super reduced rate for cooperative associations was raised from the 4% to the 5% rate;
- The VAT super reduced rate of 4% for e-books was granted also to online newspapers;
- The extension of the reverse charge mechanism for cooperative associations that provide services to public bodies was requested;
- Article 26 of National VAT law on VAT adjustment has been amended, withdrawing the condition under which the impossibility of tax recovery had to be proved in order to be entitled to make the adjustment;
- The tax free shopping has been introduced authorizing certified intermediaries to pay VAT refunds to Extra EU citizens.
Prof. Paolo Centore