1. Localizations for Italy Implementation Guide
  2. Understanding the Black List Declaration

Understanding the Black List Declaration

The Ministry of Economy and Finance requires that companies doing business with customers or suppliers that are residents of or have a permanent address in the Italian black list countries report the VAT (value-added tax) transactions that they generate. You must report these transactions monthly or quarterly.

The Multi-Purpose VAT Communication must report these types of payables and receivables transactions for the Black List Declaration:

  • Taxable.

  • Non-taxable.

  • Exempt.

  • Transaction not subject to VAT.

  • Adjustment notes.