Italy's new tax legislation removes the 10-year obligation to store POS receipts and streamlines VAT invoicing for business consortiums, while introducing transitional measures for start-up investment incentives and regional tax enforcement funding.
Italy’s Revenue Agency has announced that it has enacted Law no. 50 of 20 April 2026, converting Decree Law no. 19/2026, which introduces significant tax simplifications as part of the National Recovery and Resilience Plan (NRRP) implementation.
POS receipt storage requirement eliminated
The new legislation abolishes the decade-long requirement to retain paper receipts from POS terminals. Article 8, paragraph 1, allows businesses and citizens to rely instead on digital documentation from banks and financial intermediaries, including bank statements that detail individual transactions.
To replace paper receipts, these digital records must contain complete transaction information and be retained according to Article 2220 of the Civil Code. This change eliminates a burdensome administrative requirement, as POS receipts served only as payment proof without accounting or tax filing relevance.
Simplified VAT invoicing for business consortiums
The law extends simplified invoicing procedures to temporary business groupings (RTI). Article 8, paragraphs 3-bis and 3-ter, now permit the consortium agent to issue a single consolidated invoice by the 15th day of the following month for all goods and services transactions performed on behalf of member companies.
This amendment to Article 21, paragraph 4, letter a) of the VAT Decree mirrors existing provisions for deferred invoicing, which previously applied only to transactions documented by transport documents or multiple services for the same client within a calendar month.
Investment incentives and regional tax administration
For investments in innovative start-ups made between 1 January and 30 June 2025, investors can now submit applications for the 65% tax deduction until 31 May 2026, rather than before investing as ordinarily required.
Additionally, Article 5-bis authorises regions and autonomous provinces to establish funds for strengthening tax administration. These funds must be established within 180 days under regional law. It will be financed by allocating up to 1% of revenues collected from combating regional tax evasion in the previous fiscal year, excluding amounts generated by national tax authorities or external contractors.
The fund will support administrative strengthening measures, including IT infrastructure, database development, and staff training with an emphasis on digital skills. Regional and provincial authorities will set implementation rules and spending priorities, while tax officials will determine the annual allocation.
