E-Invoicing to Become Mandatory in Italy from 2019: Key Things You Need to Know
General B2B and B2C E-invoicing becomes mandatory from January 1, 2019.
Starting January 1, 2019, general business to business (B2B) and business to consumer (B2C) e-invoicing obligation will become mandatory.
- The e-invoice will be issued through the ‘Sistema di Intercambio’ (SDI) system, managed by the Italian tax authorities.
- The e-invoice must be issued in a FatturaPA (national XML standard. An invoice issued in a different format or not transmitted via the SDI is considered ‘not issued’ and may attract penalty.
- Once validated by the SDI, e-invoices will be made available to Clients via email
- Invoices must have a VAT or tax code assigned to it
With these new requirements, businesses need to start making necessary adjustments including:
- ERP configuration for e-invoicing and companies must ensure data required by the Italian authorities for their Clients is in the system
- Accounts receivable and payable procedures
- Automatic registration of e-invoices
- … and more including a complete VAT sanity check is advisable,.
Companies must start to think about how to implement the Italian obligation into your business. Our multidisciplinary team of tax, accounting and systems experts can assist your business to successfully comply with the new mandatory e-invoicing.