The 2016 VAT return, covering the 2015 tax period, contains a new section dedicated to suppliers of regular exporters. Due to the changes made by the Tax Simplifications decree, these entities are required to provide details of declarations of intent received from regular exporters in section VI. They must also provide the transferee or regular exporter client’s VAT number and the Revenues Agency protocol number allocated to the transmitted declaration of intent. In circular no. 22 of 2016, Assonime illustrated the impact of the latest changes to the 2016 VAT return.
Circular no. 22, Assonime examined the form’s main changes, which include new lines to incorporate the 2015 rules in view of the 30 September 2016 deadline for the submission of the annual VAT return for the 2015 tax period.
See also VAT 2016: all tax return changes
Definitely one of the most important changes affecting suppliers of regular exporters is that they can avoid applying VAT to the transfers of goods and services if they are in possession of the declarations of intent issued by regular exporters.
Until 11 February 2015
To use the VAT tax exemption regime under previous regulations, before the Tax Simplifications decree, regular exporters had to submit a declaration of intent to their suppliers, or to the customs office in the case of imports.
The full article in Italian can only be read by IPSOA subscribers for further information click here.