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Italy: No VAT rate increase in 2021

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As a result of COVID-19, Italy will not increase the VAT/IVA rates as planned in 2021.

The Italian Council Ministers approved a decree which includes, among other measures, a reversal in their decision to increase VAT rates as of 1 January 2021. Initially planned for 2020, the increased VAT rates in Italy were as follows:

  • An increase in the standard rates from 22% to 25% on 1 January, with a further increase to 26.5% planned for 1 January 2022.
  • An increase in the reduced VAT rate from 10% to 12% from 1 January 2021.

This decision is based on measures taken to mitigate the effects of COVID-19 pandemic. As a result, VAT rates remain the same in Italy in 2021 and for the foreseeable future.

 

Source Credit – Accordance

 

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