SUMMARY

VAT ordinary rate increasing from 20% to 21%

2.1 Effective date

2.2 Deferred invoicing for goods’ sale

2.3 Taxable event’s anticipation

2.4 Credit and debt memos

3. Retailers

4. Pro-forma/Notice invoices issued by professionals

5. Sales to Public Authorities

INTRODUCTION

Turning in to Law the Law Decree dated August 13th 2011 no. 138 (so called “Mid-August Measure”), has introduced new rules for VAT.

In particular, operations (sales of goods and services) put in place starting from the date of the new law enforcement (the day subsequent to its publication […]