As reported in our previous blog posts, the Italian government considered to increase the standard VAT rate from 21% to 22% with effect from 1 July 2013.
However, the Italian government decided to postpone the planned VAT rate increase from 1 July 2013 to 1 October 2013. You can access PwC’s GlobalVATOnline notification here.
What does this mean for you
If you already made preparations to reflect the proposed Italian VAT rate increase in your ERP system and / or in your contracts, make sure that these are not implemented until the new effective date of 1 October.