There are new requirements regarding value added tax (VAT) or related items beginning in 2021.
New mandatory electronic invoicing (e-invoicing) rules are effective 1 January 2021. For retailers, certain technical processes under the e-invoicing rules concern:
Tax receipt lottery
After being postponed earlier this year, the “tax receipt lottery” will be effective 1 January 2021. To participate in this lottery, business-to-consumer (B2C) customers who are at least 18 years old, are to provide retailers with a “lottery code” (codicelotteria) as downloaded from an online portal (portalelotteria) of the Italian tax authorities.
Retailers that fail to include the lottery code of those participating customers or that fail to transmit electronically the customer's lottery code to the Italian tax authorities via a cash register (registratoretelematico) system may be subject to action by the Italian tax authorities. Accordingly, retailers will want to determine that their cash registers are updated before the end of 2020 so as to determine their compliance with the technical requirements.
Transmission of daily payment details by retailers
The technical requirements for the transmission of daily payment information have been updated, and the new rules are effective 1 January 2021.
Activation deadline for e-invoicing portal
The period during which taxable persons and their intermediaries can activate a service portal on the Italian tax authorities’ website (one that allows taxable persons and representatives to view and download those e-invoices that have been issued and received) has been extended. The deadline by which service activation is mandatory is postponed to 28 February 2021 (from 30 September 2020).
Read a November 2020 report [PDF 180 KB] prepared by the KPMG member firm in Italy
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