15 January 2016 Italy's Budget Law 2016 amends VAT rules The Italian Parliament approved the budget law for 2016 (the Law) on December 28, 2015, effective from January 1, 2016. From a value-added tax (VAT) perspective, the most relevant provisions of the Law include, but are not limited to: (i) postponement to fiscal year 2017 of the increase in VAT rates originally established by the Budget Law 2015; (ii) change of statute of limitation rules; (iii) entry into force of a new penalty regime from January 1, 2016; and (iv) application of a reduced 4% VAT rate to e-publishing. Document ID: 2016-0112 |
