New obligations concerning invoices from San Marino

Art. 4 of Law Decree 193/2016, turned with amendments into Law no. 225/2016, has introduced some changes in order to prevent some forms of tax evasion, by reducing the VAT gap basing on a more efficient and timely transmission of information concerning sales and purchases carried out by taxpayers.

On the other hand, measures provided to ease fulfillments for taxpayers subject to VAT include the annulment of the obligation to submit recapitulative statements relevant to intra-EU purchases (including also transactions with the Republic of San Marino), as well as of the obligation to submit data of invoices concerning the purchase of goods from San Marino, included in Ministerial Decree dated 24 December 1993.

In particular, art. 7-quater of the Law Decree under examination has abolished – starting from 1 January 2017 – the obligation to submit to the Italian Revenue Office data relevant to the import of goods from the Republic of San Marino through the “Polivalente” form.

The abovementioned regulation leads to some operating perplexities: in fact, it amends Ministerial Decree dated 24 December 1993 which regulates the trade relationship between Italy and the Republic of San Marino and, since it has never been updated, provides for particular terms for the record of invoices relevant to the Republic of San Marino, which are not in line with the current regulation provided for by Presidential Decree no. 633/72. This implies that taxpayers subject to VAT must pay particular attention to the compliance with their obligations, in order to avoid mistakes.

For further information, please contact Mario Spera.