Italy - U.S. Companies need a €50,000+ Bank Guarantee
Summary of the New 2025 Fiscal Representation requirements in Italy:
1. Non-EU businesses already listed in the VIES database are required to submit their bank guarantee by June 13, 2025.
2. The amount of the bank guarantee is at least EUR 50,000
3. If you fail to send a guarantee you will receive a warning from the Italian tax authorities.
4. 60 days after that warning, if you still have not sent the bank guarantee your registration will be canceled.
5. The bank guarantee must be issued by an Italian correspondent bank of your bank, in Italian and formatted according to certain requirements.
Forms of bank guarantee:
• Government bonds or securities backed by the Italian state
• Bank guarantees or surety bonds issued by insurance companies
• The guarantee must be at least €50,000 in value
As of April 15, 2025, the Italian Revenue Agency has implemented new rules affecting non-EU businesses (for example U.S. companies) who trade within the European Union. This will affect your North American company if you are registered for VAT in Italy (or wish to register or remain registered in VIES) and have intracommunity transactions with your Italian VAT number.
Under the new regulations, companies based outside the EU must provide a bank guarantee starting at 50,000 Euro in order to maintain their VIES (VAT Information Exchange System).
The guarantee must valid a minimum of 36 months from the day the warranty will be delivered to the Italian VAT administration. If your guarantee is not delivered within 60 days after the receipt of their final warning it means your VAT number will be completely cancelled (around mid-August, 2025).
Contact EuroVAT Today - Immediate Action Is Necessary!
This new guarantee requirement is critical for U.S. companies who depend on their Italian VAT registration (for cross-border trade within the EU). Preparing the bank guarantees in Italian in the correct format takes time. Please email us today at vat@eurovat.com
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