In brief
By way of Measure no. 99922 of 28.2.2020, subsequently updated by Measure no. 166579 of 20.4.2020, the Italian Revenue Agency has approved the new technical specifications for electronic invoicing. Adoption of such specifications is optional from 1.10.2020 and mandatory from 1.1.2021.
The changes introduced by the new system are designed to simplify certain processes and make it easier for Financial Administrators to prepare the documents required by the online assistance programme, to be proposed to taxable persons as of transactions performed from 1.1.2021 (VAT registers, periodic payments and annual VAT return).
The main changes relate to the introduction of new codes (“Nature”, “Document Type” and “Withholdings”).
