Updates to Italian Periodic VAT Returns: What You Need to Know

In response to recent legal changes, the Italian Tax Administration has greenlit modifications to Italian Periodic VAT Returns (COMUNICAZIONE LIQUIDAZIONI PERIODICHE IVA). This update, marked by Provision 125654/2024 and officially published on March 14, 2024, introduces new form formats and XML specifications.

Key Changes to Italian Periodic VAT Returns:

Effective Implementation

The modifications take effect for taxable periods commencing in January 2024 (from Q1 2024).

Submission Deadline

The deadline for submission is set for May 16, 2024.

Notable Alterations

• The information on the processing of personal data is replaced in the model;
• In the form, the description of line VP10 is replaced by the following: “Car payments F24 identifying elements”;
• In the model and in the instructions the word “25.82”, wherever it occurs, is replaced by the following: “100.00”;
• On page 6 of the instructions, in the paragraph “Exceptional events”, code 2 is eliminated;
• On page 7 of the instructions, corresponding to line VP10, the title is replaced by the following: “Car payments F24 identifying elements”, furthermore the first period is replaced by the following: “Indicate the total amount of payments relating to the tax due for the first internal transfer of motor vehicles carried out using the appropriate tax codes in the F24 form (legislative decree no. 262/2006).”;
• In the technical specifications, the element “VersamentiAutoUE”, wherever it occurs, is replaced by the following: “VersamentiAuto”;
• On page 11 of the technical specifications, in correspondence with the “Tax Year” element, in the “Controls” column the words “of 2017” are replaced by the following: “or equal to (Year of sending communication -1)”;
• On page 12 of the technical specifications, in correspondence with the “DataImpegno” element, in the “Controls” column the date “1/01/2017” is replaced by the following: “1/01/(Year of sending communication – 4)”;
• On page 13 of the technical specifications, in correspondence with the “Exceptional Events” element, in the “Admitted Values” column the words “or 2” are deleted and in the “Controls” column the words “It cannot take on a value of 2 if the element Tax Year is greater than 2022” are suppressed; in correspondence with the “DebitoPrecedente” element, in the “Controlli” column after the word “25.82” the following are inserted: “if the AnnoImposta element = 2023, otherwise it must be <= 100.00” and are added, at the end, the following bullet points: “- the Month element is equal to 1 or 12” and “- the Quarter element is equal to 1 or 4 or 5”;

Reasons Behind the Modifications to Italian Periodic VAT Returns

The changes introduced by Provision 125654/2024 aim to update the information included in the data communication form for periodic VAT payments. This form, as per Article 21-bis of the legislative decree of May 31, 2010, n. 78, and subsequent amendments, was originally approved by the Director of the Revenue Agency in March 2017 and further amended in March 2018. One significant reason for these modifications stems from the enactment of Article 9 of the legislative decree of January 8, 2024, n. 1. This legislation has necessitated an adjustment to the minimum payment threshold for periodic VAT, raising it from 25.82 euros to 100 euros. These changes underscore the government’s efforts to ensure compliance with evolving legal frameworks while streamlining processes for taxpayers. Adhering to these updates is crucial for businesses operating within Italy, ensuring accurate and timely VAT reporting.

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