Italy's Council of Ministers Approves Implementation of EU Small Business Scheme for Cross-Border Supplies and Public CbC Reporting

Italy's Council of Ministers has approved the legislative decree for the implementation of the EU small business scheme for cross-border supplies. This includes that a taxable person established in another EU Member State is eligible for a VAT exemption in Italy if their annual turnover in Italy does not exceed EUR 85,000 and their annual turnover in the EU does not exceed EUR 100,000. Likewise, small businesses established in Italy are allowed to request the application of a VAT exemption in…