Bank guarantee requirement & certificate compliance

For VAT credits higher than 30,000 EUR, it is necessary to provide alternatively:

– bank guarantee, or

– the guarantee in the form of security in government bonds or guaranteed by the State, or

– the guarantee provided (if certain requirements are met) by the parent company of the Group having a consolidated equity exceeding 250 million EUR.

While navigating these requirements is fraught with complexity, a single wrong wording or choice of a bank can lead to rejection, as not every guarantee from every bank will be accepted, heightening the risk of delays and financial strain.

Communication and Documentation Requirements

Upon receiving the VAT refund request, the Italian tax authorities check the effectiveness of the VAT credit by requesting the documents underlying the VAT credit (VAT ledgers, relevant invoices, and explanations of the main activities carried out in Italy).

Communication is typically done via email or certified post, requiring meticulous record-keeping and prompt responses.

Submission Deadlines

VAT refund claims must adhere to specific forms and submission deadlines, including quarterly and annual VAT return due dates, necessitating careful planning and timely submissions.

Obtaining Visto di Conformità through GVC means streamlining these challenges to our tax experts who ensure a seamless process free from risks associated with meeting demanding requirements.

Collecting all relevant documents

We handle the gathering of all necessary documentation, including VAT ledgers compliant with Italian VAT law, invoices, and transaction records, streamlining the preparation process for obtaining Visto di Conformità.

Drafting VAT refund requests

Our experienced professionals draft meticulous VAT refund requests tailored to your company’s specific needs and circumstances, ensuring accuracy and compliance with regulatory requirements.

Applying for Visto di Conformità

We navigate the intricate application process for Visto di Conformità on your behalf, liaising with authorised intermediaries and overseeing the certification process to secure the necessary validation for your VAT credit claims.

Assisting in all VAT refund procedures

From initial submission to follow-up communications and queries from tax authorities, we provide comprehensive support at every stage of the VAT refund procedure, ensuring prompt and efficient resolution.

Liaising with tax authorities

Our dedicated team acts as your primary point of contact with tax authorities, facilitating smooth communication and ensuring all requirements are met on time.

Eliminating the necessity to pursue guarantee requirements

Obtaining Visto di Conformità certification eliminates your company’s necessity to pursue guarantee requirements that can be complex to navigate. Traditionally, for companies aiming at obtaining VAT credits higher than 30,000 €, the complex requirements include, alternatively:

– a bank guarantee or

– the guarantee in the form of security in government bonds or guaranteed by the State;

– the guarantee provided (if certain requirements are met) by the parent company of the Group having a consolidated equity exceeding EUR 250 million

Obtaining Visto di Conformità through GVC means delegating these challenges to our tax experts who ensure a seamless process free from risks associated with cumbersome procedures.

The high success rate in obtaining the VAT credit through certified validation

Visto di Conformità significantly increases the likelihood of a successful VAT refund as it provides an assurance to the Italian tax authorities that the VAT-related documentation, including VAT ledgers, VAT returns, and invoices, undergoes thorough review and certification by an authorised accountant. While it does not offer a guarantee of 100% certainty in obtaining the VAT credit, it offers considerable assurance to tax authorities regarding the accuracy and validity of the refund claim.

Expedited VAT refund process

Visto di Conformità eliminates the burdensome paperwork and lengthy procedures typically associated with the annual and quarterly VAT refund claims. In addition, the traditional process of the annual or quarterly VAT refund often leads to the accumulation of refund claim procedures due to strict submission deadlines, communication and documentation requirements.

With GVC’s service for obtaining Visto di Conformità, the burdensome paperwork and lengthy procedures are fully streamlined, reducing your company’s VAT refund processing times.

Improved cash flow: No frozen bank guarantee funds

Visto di Conformità is an alternative to the time-consuming process of providing a guarantee which will not generate the cash until after generating cash after three years. 

Without the burden of frozen bank guarantee funds, your company’s capital remains accessible, providing greater financial flexibility, supporting ongoing operations, and capitalising on time-sensitive ventures without delay.