Electronic invoice and receipts: new rules starting july 1st, 2019

Electronic Invoices

With effect from July 1, 2019, all immediate invoices must be issued (therefore sent to the SDI) within 12 days of the transaction. Is utterly important, the indication of the date of execution of the transaction on the invoice (if different from the issuing of the document) or as specified by the Tax Agency in the “general data” field must be stated the date of the transaction, as the SDI unequivocally certifies the date and time of the transmission if the electronic invoice.

As for deferred invoices, as stated in art, 21 DPR 633/72, the issuing of the invoice within the 15th day of the month following the transaction,  it should be noted that the Financial Administrations in the aforementioned circular clarified that the date to be indicated in the file is of the last transaction carried out in the period. For example, two transactions documented with shipping document one of June 22 and another June 27, the deferred invoice can be sent to the SDI by July 15 reporting them on June 27.

In the event of failure to comply with the deadlines described above, the penalties provided by art. 6 of the Legislative Decree 471/97 goes from 90% to 180% of the tax with a minimum of 500 euros.

For taxpayer who liquidate VAT monthly, up to September 30, 2019 the penalties mentioned above are applied with a reduction of 80%, provided that the electronic invoice is issued within the term of the VAT liquidation relating the following period. For taxpayers who liquidate the VAT quarterly the moratorium, on the application of sanctions will expire September 30.

 

Electronic Receipts

The article 17 DL 119/2018 (modifying art. 2 DL 127/2015) extended the obligation, starting January 1 2020. Obligating all the entities referred in art 22 DPR 633/1972, for storing and sending electronic receipts. This obligation is anticipated by July 1, 2019 for the entities that in the year 2018 achieved a turnover of more than 400,000 euros. Should be noted that the determination of such turnover must include all the transactions carried out by the entity referring the year 2018, including the ones documented by invoices.

Tax payers whose fees are do not exceed 1% of the turnover achieved in 2018 remain excluded until December 31, 2019. Taxpayers who perform e-commerce services, the feed continue to be exempted from electronic transmission.

Just as with the electronic invoices, the electronic receipts must be sent within 12 days of the transaction. The obligation to save the data remains in force, which must continue to be carried out on a daily basis and therefore will not entail any consequence on the VAT of the period.

For the entities starting from July 1, 2019 and for the ones starting January 1, 2020, there is a grace period of the application of penalties referring to the time of the transmission if the electronic receipts. In particular, the penalties do not apply in the case of electronic transmission if the data is transmitted within the following month. It should also be noted that those who do not have the availability of an electronic data recorder, there is the possibility of transmitting the receipts through other channels approved by the Director of the Tax Agency