Article 7 of Decree Law of 29 November 2008, No 185, ratified with amendments by Law 28 January 2009, No 2, extended the opportunity to supply goods and services for which VAT becomes chargeable at the time that consideration is received
The delay introduced by the chargeability news to comment is limited in time: the tax becomes, however, , payable after the expiry of one year from the time of performing the operation, unless, before the expiry of that period, the purchaser or transferee has been subject to bankruptcy proceedings or enforcement.
the deferral of VAT means that the conditions in which the tax liability for tax payable by the supplier (and, correspondingly, the right to deduct by the developer or its assignee) is located in any event, upon payment of fees.
It is understood, thus, alleviate the effects being particularly high, which would lead to the anticipation of payment of VAT by the supplier, assuming that the payment of fees is made later than carrying operations.
subjectively the power to defer VAT chargeability is granted to those who made at the company
arts professions
and supplying goods or services taxed in the territory of State against the suppliers or contractors who, in turn, acting in a business, arts or professions.
are, however, apply to transactions in respect of private consumers, whether resident in Italy or if residing abroad.
are allowed to issue VAT invoices with deferred only by those who have achieved in the previous year or, in the event of commencement of activity,
expect to make in the current year, a turnover not exceeding two hundred thousand euro .
The VAT system is optional for cash, as the taxpayer (with annual turnover not exceeding two hundred thousand euro) can choose with regard to each operation when subjected to immediate or deferred payment falls, with the result that will be an enforcement regime to manage the deferred tax only with respect to some of the operations carried out.
In any case, the deferral of the chargeability / deductibility is one year. The annual limit in question does not apply in respect of transactions made on behalf of the suppliers or contractors who, before the expiration of one year, have been subject to bankruptcy proceedings or enforcement.
for exclusion for
a) transactions by persons making use of special procedures for applying the tax.
b) regime "phase" (Article 74, first paragraph, of Presidential Decree 633 of 1972); c) the margin scheme for secondhand goods (Article 36 of Decree Law No. 41 of 1995), d) regime for travel agents and tourism (Article 74-bis of Presidential Decree No 633 of 1972).
e) assignees or purchasers who pay the tax under reverse charge mechanism.
Compliance Procedural aspects of the supplier The supplier expresses the desire to postpone the chargeability to tax by placing a notation on the invoice to show that it is a "transaction tax deferred for payment falls within the meaning of ' Article 7 of Decree Law No. 185 of 2008. " In the absence
of that record, the tax payable is deemed under the ordinary rules in Article 6 of Decree No 633 of 1972.
The VAT system to affect the case when the tax becomes payable and, consequently, deductible, but not the other procedural steps. It is understood, therefore, the obligation to issue invoices in the manner and within the period covered by Article 21 of Presidential Decree 633 1972 and register the same, bearing in mind that the tax shown on invoices issued, even if the VAT is not payable immediately, also notes for determining the volume of business. The same
operations, therefore, a component of the turnover of the supplier and in the determination of the percentage of deductions pursuant to Article 19-bis of Presidential Decree 633 of 1972, with reference to the year in which the operation is considered done.
The supplier must compute the tax on the transactions in which he exercised the option, the periodic payment for the month or quarter during which the fee is collected or in which expires at the end of a year from the time of performing the operation, except where, as already explained, the buyer or transferee has been previously subject to bankruptcy proceedings or enforcement.
According to Article 2, paragraph 4 of the implementing decree, if the fee is collected only in part, the tax becomes due and is computed in the periodic payment for an amount corresponding to the ratio between the amount paid and The total transaction.
is understood that in order to identify the time of payment is not made in cash, upon the occurrence of which the tax becomes payable, the supplier will refer to the results of their accounts which show the amount of credit (eg bank checks , RI.BA, RID, bank transfer).
Compliance The transferee or assignee of the client or employer receives the bill for deferred payment falls to number and, for the purposes of the deduction, write it down in the register under Article 25 of Decree 633 of 1972.
However, as expressly provided for in Article 3 of the implementing decree, the right to make the deduction of tax, if and insofar as it is for only arises from the time the transaction fee is paid.
In case where there is a partial payment of the fee, the right to deduct the tax falls on the transferee or purchaser in the proportion existing between the amount paid and the consideration overall operation.
the right to deduct may be exercised, if within one year after the invoice has been paid.
If within the period aforesaid the purchaser or transferee has been subject to bankruptcy proceedings or executive, the right of deduction does not arise because the conditions in the postponement continues (see Section 2.2).
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