Economy

Flat rate e-invoice commitment: What are the penalties?

Since the 1st of last July, holders of a fixed VAT number are required to submit an electronic invoice. What happens to someone who does not comply with the duty? The legislator has put in place a precise penal mechanism, which will not start in full capacity until after the first three months of the law’s entry into force.

On July 1, 2022,Electronic billing commitment VAT number holders on a fixed rate basis Who achieved in 2021 revenues or exceeded the rewards €25,000.

to simplify file transition, The government thought at a stage of endowment scheduled for Third quarter The year prior to the entry into force of the large-scale sanctions mechanism for those who do not comply with the obligation.

Penalties: first three months of suspension

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To simplify enteringElectronic billing commitment At the expense of lump sum subjects, the government provided for Sanctions Freeze Phase: Subjects required to issue invoice only for a period Third Quarter 2022will not be subject to Penalties If they are going to issue electronic invoices During the next month until the transaction is made (instead of the normal twelve-day legal period).

From 1 October 2022 Violation of the electronic billing obligation Punishable on the basis of the provisions of Article 6 co. 2 of Legislative Decree No. 471/1997 Thus with the application of a Punishment which may fluctuate from 5% to 10% of the feeat a minimum 500 EUR If the error does not have consequences for the calculation of value-added tax or income taxes.

If the taxpayer immediately records the consideration for direct tax purposes as well as Delayed invoice issuance, for the remaining penalty referred to in the last sentence of paragraph 2 of Article 6 of Legislative Decree No. 471/1997, incl. Between 250 euros and 2000 euros (Revenue Agency Response to Judgment Request No. 520/2021).

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E-invoice required on July 1

Flat rate e-invoice commitment: What are the penalties?

Effective July 1, 2022, we remind you, holders of a fixed VAT number You are required to submit an electronic invoice. Specifically, a taxpayer who in 2021 generated revenue or bonuses, reported annually, more than €25,000As a result, they are obligated to issue, store and receive invoices in electronic format as of next month.

L ‘Exemption out of commitmentAlternatively, it could be up to about 800,000 VAT numbers, including small businesses, the self-employed and professionals, who will stay under the flat rate scheme for another two years with a simple paper bill.

Thelma Binder

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