Reporting Features for Italy

Oracle Fusion Applications provide standard financial and tax reports to meet the legal and business reporting requirements of tax authorities. For countries like Italy, a set of country-specific reports is provided to meet local reporting requirements for VAT, intra-EU activity, exemptions and withholding tax.

This tables are the lists of reports for Italy by type.

VAT Reports

Report Name	Description
Declarable Input VAT Register for Italy	Lists the declarable input VAT activities with document sequences assigned to the selected tax register, including payments of invoices with deferred tax. Displays the recoverable and nonrecoverable tax amounts and corresponding taxable amounts. Provides a summary section with totals by tax rate code and a grand total.
Declarable Output VAT Register for Italy	Lists the declarable output VAT activities with document sequences assigned to the selected tax register, including receipts of invoices with deferred tax and adjustments. Displays the tax and taxable amounts. Provides a summary section with totals by tax rate code and a grand total for invoices, receipts and adjustments.
Payables Sales VAT Register for Self Invoices, EEC, VAT for Italy	Provides information about: Recoverable, nonrecoverable, and deferred tax amounts. Corresponding portions of taxable amounts for all invoices received from suppliers within the European Union. All self-billing invoices that have accounting dates within the reporting period.
Purchase VAT Register for Italy	Lists all purchase invoices with document sequences that are assigned to the selected tax register and have accounting dates within the selected tax period.
Receivables Sales VAT Register for Italy	Lists all sales invoices with document sequences that are assigned to the selected tax register and have accounting dates within the selected tax period.
VAT Liquidation Report for Italy	Provides summary information for all reportable tax events with tax point dates within the reporting period. Identifies the associated tax register for each transaction. Provides a summary per tax rate code with the totals for each tax register. Includes a grand total section for all reportable sales and purchases VAT and credit balances from the previous report. This determines the net VAT amount to be paid to the authorities.

Intra-EU Reports

Report Name	Description
European Purchase Listing of Services for Italy	Lists all Intra-EU payables transactions for services with specific transaction details for Italy, such as service code and service mode.
European Sales Listing of Services for Italy	Lists all Intra-EU receivables transactions for services with specific transaction details for Italy, such as service code and service mode.

Exemption Reports

Companies in Italy that are regular exporters can legally request suppliers to not charge VAT on purchase transactions. The Letter of Intent is the official letter to send to suppliers and customs for this exemption. This letter contains:

• Instructions to invoice without VAT.

• Revocation or suspension of a previous letter of intent, with instructions to invoice with VAT.

The exemption limit is the total VAT exemption amount that a regular exporter can claim against suppliers, and is monitored on a periodic basis.

These reports support the exemption handling requirements:

Report Name	Description
Letter of Intent Report for Italy	Produces an exemption letter for suppliers in Italy instructing them not to include VAT on invoices that they submit.
Supplier Exemption Limit Consumption Report for Italy	Lists suppliers eligible for exemption in Italy and their monthly consumption of assigned exemption limit. Lists consumption details of all the suppliers, or a specific supplier. Includes all invoices exempted during a calendar period.
Letter of Intent Receivables Invoice Register for Italy	Lists receivables transactions associated with a letter of intent for a specific calendar year. Prints letters of intent details issued by customers and associated with the transactions.
Subledger Letter of Intent Register for Italy	Lists payables and receivables transactions issued with a letter of intent for a specific calendar year. Provides letter of intent details such as protocol number, allocation type, amount, and effective dates.

Withholding Tax Reports

Report Name	Description
Withholding Tax Letters for Italy	Creates letters sent to suppliers in Italy that confirm tax amounts that are withheld on partially or fully paid purchase invoices within a calendar year. Prints for a specific supplier or for all suppliers.
Withholding Tax Yearly Report for Italy	Shows the annual taxes withheld by first-party legal entities for a supplier during a specified year. The report is grouped by supplier name, supplier taxpayer ID or supplier tax registration number.