Communication of periodic VAT payments who is exempt?

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Question by: Dr. Silvano De rosa | Last updated: September 20, 2021

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Taxable persons who are not obliged to submit the annual VAT return or to carry out periodic payments are exempted from compliance, provided that, during the year, the conditions for exemption do not cease to exist.

Who is exempt from the periodic VAT payment?

Subjects not obliged to submit the VAT return or to carry out periodic settlements are exempt from submitting the periodic communication of VAT payments, provided that, during the year, the aforementioned exemption conditions do not cease.

When should LIPE not be submitted?

The answer is no: it is not necessary to send quarterly VAT communications even when the settlement closes with a result equal to zero and there are no transactions for VAT purposes in the quarter.

When do the periodic payments expire?

Lipe Deadline (Periodic VAT settlements) 2021: 1st quarter 2021 = by 31 May 2021. 2nd quarter 2021 = by 16 September 2021. 3rd quarter 2021 = by 30 November 2021.

How to send periodic VAT settlement communications?

The electronic transmission of the “Periodic Settlement Communication” must be done by all users through the “Invoices and Payments” channel which can be accessed from the Revenue Agency website.

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How do you send the Lipe?

To electronically send the communication of the quarterly VAT payments, the first operation to be performed is to access the reserved area on the Revenue Agency website with the Entratel credentials and access the “Electronic Invoice-Electronic Fees” section.

How to communicate quarterly VAT settlement?

To transmit the quarterly VAT communication, an xml file must be prepared that complies with the technical specifications and which, in particular, contains: The identification data of the person to whom the communication refers. The data of the VAT settlement operations carried out in the reference quarter.

When does LIPE I quarter 2021 expire?

The deadline for sending the Communication of periodic VAT settlements (LIPE) for the second quarter of 2021 is set for 16 September 2021. Here are the instructions for electronic submission to the Revenue Agency.

When does Lipe IV quarter 2020 expire?

Deadline today 1 March 2021 for sending the VAT return with the Lipas of the fourth quarter 2020. As reported in the instructions of the Revenue Agency, the data of the periodic VAT settlement communications must be indicated in part VP.

Which VAT codes go into the Lipe?

36 DL 41/95).

  • VP1: Reference period (month or quarter);
  • VP2: Total Taxable Operations Active;
  • VP3: Total Taxable Passive Transactions;
  • VP4: VAT payable (VAT payable);
  • VP5: VAT deducted (VAT credit deductible)
  • VP6: VAT due (VAT payable – VAT credit)

Who is exempt from Lipas?

Taxable persons who are not obliged to submit the annual VAT return or to carry out periodic payments are exempted from compliance, provided that, during the year, the conditions for exemption do not cease to exist.

Who should send Lipe?

All VAT taxable persons are required to submit the quarterly communication of the VAT settlements made, regardless of whether a tax surplus emerges from the periodic settlement and whether the tax settlement takes place on a monthly or quarterly basis.

What does Lipe mean?

LI.PE. is the acronym for VAT communications of periodic settlements, the new requirement introduced by Legislative Decree 193/2016 in order to combat tax evasion of value added tax.

What is indicated in the Lipe?

PERIODIC (LIPE) “

The LIPE Model is made up of a title page and one or more VP panels. In the title page, the main data that must be indicated are the following: The tax year to which the model refers; The data relating to the company presenting the model (VAT number);

What is periodic settlement?

The communication of periodic VAT settlements is a requirement for taxpayers who settle the value added tax monthly or quarterly.

When does the VAT for the second quarter of 2021 expire?

The next deadline, on the other hand, concerns the communication of VAT payments relating to the second quarter, which must be sent electronically to the Revenue Agency by 16 September 2021.

How to correct the periodic VAT payment?

To correct or integrate the omitted, incomplete or incorrect data in the LIPE (Communications of periodic VAT payments), part VH of the VAT form must be completed. The instructions for completing part VH confirm what has already been confirmed with resolution no. 104 / E / 2017 of the Revenue Agency.

Who is exempt from the VAT return?

Who must submit the VAT return

All taxpayers carrying out business activities (under any legal form) or artistic or professional activities (even in associated form), holders of a VAT number are required to submit the annual VAT return.

Who must submit the annual VAT return?

The annual VAT return 2021 must be presented by taxpayers with a VAT number who carry out business or self-employment activities. However, there are some taxpayers who are exempt from filing a VAT return.

Who must submit the 2021 VAT return?

All holders of a VAT number who carry out business activities, artistic or professional activities are obliged to submit the annual VAT return. The model must be submitted – exclusively electronically – between 1 February and 30 April 2021.

What’s going on in VP3?

Line VP3 – Total passive transactions

25, or on other registers provided for by provisions concerning particular regimes. The line also includes purchases with deferred collectability, as well as those with non-deductible VAT.

What is the VP framework for?

The VP-Periodic payments part of the 2021 VAT return form is reserved for taxpayers who intend to make use of the option provided for by the Growth Decree (Legislative Decree 34/2019) which amended Article 21 bis of Legislative Decree 78/2010, to communicate with the annual declaration the summary accounting data of the …

How do you pay VAT?

To determine the VAT payment it is necessary to make the algebraic sum between debit VAT and credit VAT. If the difference from the transaction is positive, the amount (VAT payable) must be paid to the tax authorities.

How is the VAT to be paid quarterly calculated?

The calculation is very simple: just deduct the tax amount of the invoices issued from that of the invoices received from the suppliers and you get a result that can be debit or credit.

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