Value added tax is charged on supplies of goods or services carried out within the territory of Italy in the exercise of a business, trade or profession, and on imports carried out by any person. In general, businesses must charge VAT to their customers and pay it to the tax authorities. At the same time they can deduct from the VAT due the VAT they paid their suppliers on their purchases. VAT due is paid on a monthly or quarterly basis.<\/p>\n
The VAT turnover of a business, art or profession is defined as \u2018turnover\u2019 and consists of the sum of the taxable amounts of the supplies of goods and services that the entity makes, records or is required to record in a calendar year. Turnover comprises mainly transactions subject to VAT, non-taxable transactions and exempt transactions.<\/p>\n
In general, VAT is due only on taxable transactions and is applied at different proportional rates depending on the type of transaction carried out.<\/p>\n","protected":false},"excerpt":{"rendered":"
Value added tax is charged on supplies of goods or services carried out within the territory of Italy in the exercise of a business, trade or profession, and on imports carried out by any person. In general, businesses must charge VAT to their customers and pay it to the tax authorities. At the same time […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2990","post","type-post","status-publish","format-standard","hentry","category-unkategorisiert"],"yoast_head":"\n