Italy: VAT group update for non-resident companies.
VAT News Updates
24th January 2020: Non-resident Italian entities with non-taxable activities can be part of a VAT group.
The Italian tax authority has confirmed that a non-resident company can be identified in Italy for VAT purposes with the sole scope to participate at the VAT consolidation regime “IVA di gruppo” (art. 73 of Presidential Decree 633/1972) – i.e. even without carrying out any relevant transaction for VAT purposes.
This means that for a foreign holding company the identification in Italy according to article 35-ter of Presidential Decree 633/1972 is enough to set-up the VAT consolidation.
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Portugal: E-invoicing update.
9th January 2020: For companies established in Portugal these changes have taken effect from 1 January 2020.
Small businesses in Europe to benefit from VAT registration updates.
16th December 2019: In November 2019, the EU Council reached a decision to further simplify the VAT rules applicable to small businesses.