VAT statements details for Italy

This topic explains how to set up a VAT statement for legal entities in Italy.

Set up customer/vendor tax information for tax reports

To generate the sales tax report, the customer and vendor must be configured with the fiscal information for Italy. On the Customers page, select the fields in the following table.

Invoice and delivery

Field Description
Tax exempt number Enter the tax exempt number for VAT declaration.
Fiscal code Enter the fiscal code for this customer.
Sales tax Group Select a sales tax group to be used for this customer.

On the Vendors page, select the fields in the following table.

Invoice and delivery

Field Description
Tax exempt number Enter the tax exempt number for VAT declaration.
Fiscal code Enter the fiscal code for this vendor.
Sales tax Group Select a sales tax group to be used for this vendor.

Set up a company fiscal code and tax registration number

To generate reports, the company fiscal code and registration number should be set up on the Legal entity page. On the Legal entity page, select the fields in the following table.

Registration numbers

Field Description
Fiscal Code Enter the fiscal code from the legal entity registration in Italy.
Legal Nature Enter the legal structure of the company.
CUC Enter the CUC code.

Tax registration

Field Description
Tax registration number Enter the tax registration number for the legal entity in Italy

Set up parameters for Italian sales tax book

On the Sales tax page, create sales tax books to be reported to the Italian government after the settlement period is past.

Field Description
Sales tax book type Enter the movement direction. (Sales/Purchase)
Sales tax book Enter the identifier of the sales tax book.
Name Enter the name of the sales tax book.
Sales tax book type Enter the movement direction. (Sales/Purchase)
Settlement period The period for this tax book.
Closed to Select the transaction date.
EU sales The amount sold to the European Union.
ATECOFIN The tax code for sales tax reporting.
Print summary and payment Select to print the summary and payment report.

Yearly tax communication report

After the year end, generate the report for each settlement period. The transmission is mandatory as required by the Italian fiscal authority via a website. On the Yearly tax communication page, it is possible to create or view a report.

Overview

Field Description
Tax communication ID Enter the identification number of the Yearly tax communication report.
Years Enter the year of the tax communication.
ATECOFIN Code Enter the tax code that is associated with the classification of possible company activities.
Exported Indicates that the .ivc file is exported.

General

Field Description
Tax communication ID Enter the identification number of the Yearly tax communication report.
Years Enter the year of the tax communication.
ATECOFIN Code Enter the tax code that is associated with the classification of possible company activities.
Exported Indicates that the file was exported.
Date of export The date when the .ivc file was exported.
Export file name The name of the .ivc file.

VAT summary report

For VAT reporting, Italy has specific information to be reported and formatted. In the Sales tax authorities page, on Tax setup, configure the Italian authority.

Field Description
Report layout Select the Italian report to enable Italian fields.
Print blank page with no transactions Select to print blank pages when no transactions are present.
Separate summary register Select this check box to use a separate value added tax (VAT) book to number summary sections.
Account gain Gain due to rounding.
Account loss Loss due to rounding.

Sales tax settlement periods

Per Italian legislation, rules apply to settlement periods. For example, after the settlement period is closed, no change is allowed. You are required to report if the settlement refers to the last period on the fiscal year. View the settlement period status and report if it refers to a year closing. On the Sales tax settlement period page > Period Intervals tab, select the following fields.

Field Description
Closed Indicates if the Italian sales tax book for the period has been updated and automatically closed.
Last period Select this option if the period is the last period in a sales tax year.