Italy has published Legislative Decree no. 87/2024 in the Official Gazette on 28 June 2024, introducing major amendments related to Italy’s tax penalty system.
The Decree went into force the day of its publication and will be applied to violations starting from 1 September, 2024.
Under the Decree, VAT-registered entities operating in Italy engaged in zero-rated supply of goods will incur an administrative penalty of 50% of the VAT if the goods, transported to another EU member state by the buyer or third parties on its behalf, do not arrive in that Member State within 90 days of their delivery in Italy.
This penalty can be avoided if the invoice is corrected and the VAT is submitted to the Treasury within 30 days after the initial 90-day deadline.
