The Italian authorities passed a series of measures aimed at detecting and combating tax fraud: "Quarterly informative report VAT invoices data".
The aim is to get close to real-time information of company transactions, which will allow the tax authorities to perform a more efficient tax audit and reduce processing time. Companies face business challenges to implement these new requirements.
Italy
Quarterly informative report VAT invoices data
Starting from 1 January 2017 a new informative report of VAT data related to AP and AR invoices, including related credit and debit notes and customs bills, has to be filed by taxpayers on a quarterly basis (former Spesometro).
This new report should include the following data:
- The parties involved in the transaction: VAT number, name, address, fiscal representative
- Date and reference number of the invoices
- Taxable basis, VAT rate and VAT amount
- Type of transaction, reason of VAT exemption
- For correction invoice the reference to the reported original invoice
The deadline for filing of the VAT invoices data informative reports
For 2017, the VAT invoices data informative reports must be filed with the Tax Authorities on a six-monthly basis rather than on a quarterly one, i.e.:
- by September 18, 2017 (as September 16 falls on a Saturday) for the first semester of 2017;
- by February 28, 2018 for the second semester of 2017.
Starting from 2018, the deadlines will be on a quarterly basis again.
SAP add-on for e-invoicing via clearance model
KGT SAP add-ons for SAF-T, e-invoicing and MTD UK for VAT work as a standalone application within the SAP system and does not change existing customer SAP functionality or processes. It is fully configurable with custom namespace /KGT.
KGT partnered up with SAP regarding 'SAP Advanced Compliance Reporting for SAP HANA'. The 'Advanced Compliance Reporting' (ACR) service enables you to configure, generate, analyze, and electronically submit statutory reports that contain indirect taxes, such as value-added tax.
KGT provides also S/4 HANA transformation support.
