Italian electronic invoicing (SdI)
From the 1 January 2019 Italy will introduce mandatory electronic sales invoice issuance and reporting. All relevant invoices must be issued and submitted to the Italian Revenue Agency’s e-invoicing platform, Sistema di Interscambio (SdI).
Join Riccardo De Meis Cassisa, Agenzia delle Entrate, with Richard Asquith and Kid Misso, Avalara, to learn about the 2019 new electronic SdI VAT invoice rules and solutions.
- 1 January 2019: electronic VAT invoice reporting, via the tax authorities, for most companies
- Invoices must be submitted for pre-approval with the Italian tax authorities SdI platform
- Only once SdI verifies the invoice, will it forward to the customer for payment
- Staged, soft-landing for 2019
- The Spesometro return will be replaced by the Esterometro submission
The new invoice reporting obligation is designed to reduce errors and prevent VAT fraud. Italy’s VAT Gap – the difference between forecast revenues versus actual take – is by far the largest in Europe. It accounts for 23% of the EU estimated €151.5 billion VAT missing in Europe.
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.
Kid Misso is the VP of Product Management for EMEA at Avalara. Kid is a systems analysis graduate with 30 years of IT experience in a broad range of disciplines from development and product management through systems implementation, sales support, and software sales management. Kid has worked for Xerox, American Express, Sabrix, and Thomson Reuters as well as multiple technology startup companies. In the last fifteen years, he has specialised in international indirect tax automation.