With regard to Italian VAT refunds, threshold whose levels require the need of a bank guarantee (or of a certified statement issued by a chartered accountant …
With regard to Italian VAT refunds, threshold whose levels require the need of a bank guarantee (or of a certified statement issued by a chartered accountant, confirming that VAT return correspond to both invoices and VAT ledgers results) has been increased (by art. 7-quater Decree 193/16) from € 15.000,00 up to € 30.000,00. The new threshold applies immediately, to VAT claims arising from 2016 annual VAT returns (to be electronically forwarded to VAT authorities by a new deadline: February 2017). Further to instructions formerly provided by Agenzia delle Entrate (with regard to a similar case), it should also apply to outstanding Agenzia delle Entrate requests for bank guarantees, which should not be answered anymore. The increased threshold:1) refers to VAT refunds claims only, meaning that in case of VAT offsetting (input VAT balance vs/direct taxes, for instance) threshold remains unchanged: € 15.000,00; 2) relates to the whole year and nor to a single claim.
Alessandro Garzon
