Electronic invoicing for businesses enjoying flat-rate tax schemes

Starting from July 1st 2022, electronic invoicing shall be mandatory also for businesses subject to flat-rate schemes, or individuals exercising business activities, arts or professions that in the previous fiscal year did not achieve revenues above 65,000 EUR. Let's see what this regulatory change entails.

History, rules and reasons for mandatory electronic invoicing for businesses enjoying flat-rate tax schemes 

On April 13, 2022, the Council of Ministers approved the electronic invoicing requirement also for taxpayers enjoying the flat rate scheme, i.e. businesses applying a 15% flat- rate tax on income up to 65,000 EUR. This measure is part of the law decree aimed at implementing the 45 objectives of the RRP, with operations designed to counter tax evasion.

The new requirement is part of the electronic invoicing obligation, postponed to 2024, requested by the Italian government to the European Commission. Professionals enjoying the flat-rate tax scheme who do not exceed 25,000 euros of compensation per year, however, will be allowed to use traditional invoicing until 2024.

The benefits of electronic invoicing

The benefits that Italy has achieved in recent years through the adoption of this tool are remarkable. Among the most important ones we can mention:

• improvement of the ability of tax authorities to fight VAT fraud and evasion, reducing the time needed to detect them and improving the possibilities of carrying out risk analyses;
• provision of additional services to VAT taxpayers, such as pre-filled purchase and sale registers, periodic VAT settlement statement, pre-filled annual VAT returns and pre-filled payment forms, there including taxes to be paid, offset or refunded;
• elimination of several obligations, such as invoice data reporting for domestic transactions, compilation of Intrastat purchase reports and the obligation to provide details of contracts subscribed by leasing, rental and hire companies.

Custom's solutions to meet the new regulations

Custom provides different combinations of hardware and software to meet the new needs of taxpayers enjoying the flat-rate tax scheme. From the "all-in-one" telematics PC POS FUSION F RT to the mobile-ready cash registers BIG PLUS-N RT and JSMART-N RT, from the Android™ Keep Up Smart application, to the Electronic Invoicing package, all our solutions feature multiple advantages:

• paper print for the customer at the time of payment;
• master data search through VAT ID code;
• auto-compiling of the fields necessary to prepare an electronic invoice;
• mobility-based systems for itinerant trade; 
• extensive description of invoiced goods.

 

Contact us now to find out the best solution for your needs!