Documents needed to start
- Articles of Organisation/ Articles of Incorporation/ Business Extract.
- Director’s proof of address X2: these can be electricity/water/phone bills or bank statements.
- Valid director's passport.
- AVASK application form.
Timeframes:
- VAT EU company: approximately 2-3 months
- VAT non-EU company : approximately 3 weeks - requiring VAT guarantee deposit - see article
- Takeover: approximately 2 weeks
- EORI: 2 weeks
VAT Number Format: IT12345678901
Filing frequency - Monthly filings are the standard option. You may choose to file quarterly instead; however, this is subject to a surcharge.
For quarterly filings, a 1% surcharge applies due to the fiscal representation requirements set by the Italian Tax Authorities. As a result, you may notice a discrepancy between the figures on the report and your final liability—this is due to the 1% fee imposed each quarter.
Filing & Payment Deadline: 16 days after the period end, quarterly clients are given an additional 1 month 16 days.
Repayments: Repayments are usually paid within 6 to 12 months of the repayment being approved. Approval can take 5 to 9 months. Timeframes are dependent on the tax office being satisfied with the legitimacy of the source of the refund.
VAT Rates:
- Standard: 22%
- Reduced Rate 1: 10%
- Reduced Rate 2: 5%
- Reduced Rate 3: 4%