Product Update 398: INTRASTAT Returns Enhanced in Compliance to New Value-Added Tax (VAT) Package (Italian Legislation)

INTRASTAT is a system used to collect the statistics on the trade in goods among European Union (EU) countries. From the statistics, the respective governments formulate trade policies and plan the infrastructure needs. Traders can make their declarations on the INTRASTAT transactions to the respective country's Central Statistical Office by generating INTRASTAT returns. Exact Globe has supported INTRASTAT returns for the Italian legislation since batch 350. For more information, see Batch 350: INTRASTAT for Italy.

Beginning January 2010, the EU Council of Finance Ministers has adopted a new regulation on value-added tax (VAT package). The regulation allows local authorities in EU member states to define the rules regarding the cross-border sales of goods and services. In line with the new regulation, the Italian authorities have decided to enhance the existing INTRASTAT returns to include the information on cross-border sales of goods and services in the report. Besides complying with the new regulation, the INTRASTAT returns will be more informative. The enhancements are the following additions:

• The descriptions for statistical numbers for goods.
• The statistical numbers for services and the descriptions.
• The information on the cross-border sales and purchase of services in the sales and purchase layouts of INTRASTAT returns.

Below are the details of the enhancements:

• The Description column is added to System/Logistics/Intrastat/Statistical numbers. This column will display the descriptions of the corresponding statistical numbers of different goods. The statistical numbers of different goods determine the types of transactions. Besides that, the statistical numbers and descriptions of different services are also added to the screen. For more information on the descriptions of the statistical numbers of different goods and the statistical numbers and descriptions of different services, see INTRASTAT items codes for goods and services for 2010. The changes are shown in the following screen:
   
• Apart from the INTRASTAT returns for sales of goods and purchase of goods, you can generate INTRASTAT returns for sales of services and purchase of services at Invoice/Statistics/Intrastat. The information on the cross-border sales and purchase of services will also be included in the new layouts. The types of layouts that will be used depend on the availability of service items in the transactions and on whether the entries are for sales or purchase. For more information, see Definitions Intrastat Return Sales Italy 2010 and Definitions Intrastat Return Purchase Italy 2010 .The following are sample INRASTAT returns for sales and purchase of service items.