The sanctioning system, governed by Legislative Decree n.471 of 18.12.1997 has been modified by Legislative Decree 24 of 2015 September 158 in order to create greater proportionality between the extent of the sanction and the seriousness of the violation. In this context, the provisions contained in article 15 of the aforementioned provision, relating to the violations committed in the application of the particular accounting reversal regime (article 17, paragraph 3,5,6, of Presidential Decree 633/72) take on particular relevance, which has assumed an increasingly important role in some sectors of activity, as an anti-fraud tool for VAT purposes. In summary, the reverse charge mechanism represents an exception to the general VAT principle where the payment of VAT is charged to the buyer, or to the same person who is also entitled to the deduction. In practice, the transferor or lender issues an invoice without charging the tax, according to the rules of reverse charge (Article 17 paragraph 6 of Presidential Decree no. 633/1972). The recipient integrates the invoice received with the indication of the proper rate of the operation and records the document both in the register of invoices issued and in the register of purchases, making the effect of the tax on the purchase neutral. With this newsletter, we intend to make a point on the new sanctioning discipline in the light of the important explanatory Circular of the Revenue Agency n.16 of 11 May 2017.
Newsletter no. 6/2017
