Electronic Receipts and Telematic Transmission: the requirement is postponed by 6 months

The requirement to transmit takings data electronically to the Italian Revenue Agency, which now applies to all retailers, has been postponed by a further 6 months. As a result of the Covid-19 emergency, businesses will therefore have until 1 January 2021 to comply. However, the tax incentives for upgrading your point of sale only apply until the end of 2020, and getting to grips with the new system takes time and effort: in short, don't leave it until the last minute.

More time to purchase telematic cash registers

Last May's Relaunch Decree (Decreto Rilancio) postpones the end of the transition period to the beginning of next year. 1 January 2021 will therefore be the final deadline for purchasing and commissioning a telematic cash register.

In this regard, Custom has all the solutions you need to meet the legal requirement. Our range of telematic cash registers meets every need. Whether for use in a shop or by a street vendor, the different devices in the range adapt to any context.

Penalties for failing to send receipts or sending them late

The penalties relating to issuing electronic receipts have also been postponed. Specifically, the non-application of penalties for VAT-registered businesses that are unable to obtain a telematic cash register or to transmit takings data to the Italian Revenue Agency in time has been extended to 1 January 2021.

Compared with the past, however, the regulations will change the way these obligations are fulfilled. Daily takings data must be transmitted electronically to the Italian Revenue Agency within twelve days of the transaction. The daily storage requirements for takings data remain unchanged, as do the deadlines for periodic VAT settlements.

A further incentive to get familiar with the new system as soon as possible is the new penalties in force, which are particularly severe. Specifically, if daily takings are sent late to the Italian Revenue Agency, both a financial and an ancillary penalty apply.

The former is equal to 100% of the tax corresponding to the amount not documented within the prescribed deadlines. The same applies if individual transactions are not recorded in the takings register when fiscal meters are not working or are working irregularly. Failure to request maintenance promptly is also punished with an administrative penalty ranging from a minimum of 250 to a maximum of 2,000 euros.

The latter applies in the case of four separate violations committed within 5 years: it consists of the suspension of the licence or authorisation to carry out the business, for a period ranging from a minimum of three days to a maximum of one month. If the total amount of takings in dispute exceeds 50,000 euros, the suspension is imposed for a period of one to six months.

Tax incentives for switching to telematic cash registers

The postponement of the requirement is also the last opportunity to take advantage of the tax incentives. Throughout 2020, you are entitled to a contribution equal to 50% of the expenditure incurred. You can find all the details in our in-depth article on the subject.

Custom is already telematic and supports you through the transition! Discover our solutions for switching to telematic cash registers.