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Updated tax penalty regime in Italy from 1 September 2024

12 September 2024
Italy

On 28 June 2024, Decree n. 87/2024 was released, amending several regulations of the tax sanction system. The updated regulations apply to violations committed from 1 September 2024.   Some of the most pertinent changes include, but are not limited to: The penalty for sellers is 70% of incorrectly documented VAT, as opposed to the previous 90% and 180 with a new minimum of EUR 300 instead of EUR 500;   A violation of invoicing and/or registration of exempt, non-taxable amounts not subject to VAT or reverse charge is 5% (previously ranging between 5% and 10%) of the fees, with...