Share with your friends

Italy: Claims for VAT refunds do not require bank guarantees

Italy: Claims for VAT refunds

The Italian tax authorities issued a ruling (no. 292 on 31 August 2020) clarifying that it is possible to file an amended value added tax (VAT) return that includes a claim for a refund of VAT without also having to provide bank guarantees.


Related content


The taxpayer filed VAT refund claims for years 2015 and 2017. At the time of the amended VAT returns, the taxpayer was not entitled to obtain a “conformity visa” (i.e., a certification by a registered accountant that the VAT credit in the claim for refund was “genuine”) and thus was not entitled to file the VAT refund claim without a bank guarantee (one for each refund claim filed) because there were in existence at that time certain pending tax charges. Therefore, the Italian tax authorities requested the taxpayer supply the bank guarantees in order for the VAT refunds to be paid.

After the taxpayer settled the pending tax charges, the taxpayer filed a request with the Italian tax authorities for a ruling to confirm that it is possible to file (for instance, in 2020) amended VAT returns for the years 2015 and 2017 along with the conformity visa in order to obtain VAT refunds without the need to submit bank guarantees.

The ruling

The Italian tax authorities in the ruling confirmed that as soon as the taxpayer satisfies all the requirements to certify the VAT returns with the conformity visa (even if these requirements were lacking at the time of the original VAT return), the taxpayer is able to submit the amended VAT returns with the conformity visa and to obtain the VAT refunds without having to provide bank guarantees. The submission of the amended VAT returns is possible if the years at issue are still open to assessment from the Italian tax authorities.

The tax authorities in this matter determined that the amended VAT return with the conformity visa could be filed before expiration of the statute of limitations for the year concerned (e.g., the amended VAT return for 2015 could be filed by 2020)—and despite the fact that, at the time of the filing of the original VAT return, the conformity visa could not be granted because of certain missing requirements—as long as these requirements are satisfied at the time the amend VAT return is filed.

Read a September 2020 report [PDF 144 KB] prepared by the KPMG member firm in Italy

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal