Italy Introduces Procedures for VAT Relief for Certain Exporters
Italy recently issued guidance to its rules on “letters of intent” for value-added tax relief for certain exporters, according to a March 2 KPMG post. The guidance outlines new procedures so “habitual exporters” can trade without application of VATs, KPMG…
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said. Among several recent changes, those exporters no longer have to provide suppliers or Italian Customs with a “copy of the letter of intent or the tax authority’s receipt” and no longer have to post those letters in a “special ledger,” the post said.