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 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.