This webinar is hosted by SAPinsider and presented by Sovos.
On January 1, 2019, a new value-added tax (VAT) mandate takes effect in Italy, and finance, accounting, and SAP teams should not underestimate the complexity of its impact in terms of processes, certifications, and archiving. This mandate requires all private business-to-business (B2B) companies to submit electronic invoicing-related information — such as deposits/down payments on invoices and deposits/down payments for fees, credit notes, and debit notes — to the government interchange system, the Sistema di Interscambio (SDI).
In addition, transactions between trading partners will be audited and monitored in real time by Italy’s tax agency, the Agenzia delle Entrate. The effort it will take to comply with this regulation could be significant, but it is necessary to avoid serious penalties that range from 90% to 180% of the VAT not correctly documented, according to article 6(1), Legislative Decree no. 471/97.
Watch this webinar on-demand and learn how to ensure successful compliance with this new VAT. Topics include:
• VAT obligations in Italy and the basics of the new mandate
• The “must have” capabilities to be fully compliant with VAT in Italy
• The best approach to mitigate the risk of non-VAT compliance, to reduce the impact that changing legislation has on your SAP system
• How to be prepared for electronic invoicing mandates, which are becoming increasingly common throughout the world