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Italian VAT returns

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Italian VAT returns

This section includes information about Frequency of Italian VAT returns, applicable deadlines for these obligations, how to make VAT payments and how to get a VAT refund in Italy, whether nil VAT returns must be submitted and how to make corrective VAT returns. We also included the tax authorities details for non-established companies and the applicable penalties for late filing and late payment. 

Italy has a unique system of reporting and paying VAT. This system is made up of monthly VAT payments for certain taxpayers, quarterly VAT returns and quarterly VAT ledgers. In addition, an annual summary VAT return is due by all businesses registered for VAT in Italy.

Monthly VAT payments

VAT registered companies with a turnover above €400,000 for services or €700,000 on supplies of goods must make monthly VAT payments to the Italian tax authorities. This means that VAT on all transactions carried in Italy must be accounted and calculated on a monthly basis. These calculations are done in a given format and kept in the records of the taxpayer in case the authorities request them during a tax audit. There is no need to submit the VAT calculations to the tax authorities, only VAT payments are made on a monthly basis.

Quarterly VAT returns and VAT ledgers

All VAT registered companies in Italy must submit a VAT return on a quarterly basis. In addition, VAT ledgers with a listing of all transactions carried out in Italy is also submitted on a quarterly basis.

Regarding VAT payments, businesses with a turnover below €400,000 for services or €700,000 for goods will only make quarterly VAT payments (they are not required to make monthly payments). When paying VAT quarterly, the amount due should be increased by 1% to pay for index price fluctuations.

Annual summary VAT returns

An annual summary return must be filed every year by every registered company in Italy. These returns are submitted in addition to the periodic quarterly VAT returns and VAT ledgers, hence annual returns do not replace the periodic VAT obligations. See more information below under Annual summary return.