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Italian mandatory e-invoicing
Following to the approval of the Financial Law 2018 a mandatory electronic invoicing obligation will be in force for supplies of goods or services carried out between subjects that are resident or VAT established in Italy. From January 1st, 2019 a general business to business (B2B) and business to customer (B2C) e-invoicing obligation will be applied. Moreover, for both the public subcontract sector and for supplies of petrol or diesel fuel intended for use as motor fuel, the e-invoicing obligation has been already effective as from July 1st, 2018.
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E-invoicing will affect significantly the internal procedures of business and consequently Taxpayers should check if their informatic systems are ready for e-invoicing procedures and understand the necessary adjustments so to connect their existing IT systems with the invoicing applications.
Moreover, they should:
✓ select the e-invoicing formats in order to be able to exchange invoices with customers and vendors and also register with the exchange system of the Italian Tax Authorities (SID);
✓ check the proper way to automate the accounts receivable and payable procedures;
✓ implement a compliant e-archiving procedure.