VAT registers are used to record all VAT-relevant transactions and form the basis for:
- periodic VAT settlement
- quarterly VAT report
- annual VAT declaration
- tax audits
The following three registers must be kept:
1. Register of issued invoices (registro fatture emesse)
This register records issued invoices in sequential order.
The mandatory details for each invoice are:
- sequential invoice number
- date of issue
- VAT tax base
- VAT amount
- applicable VAT rate (for example 4%, 5%, 10%, 22%)
- customer data
2. Register of daily takings (registro dei corrispettivi)
This register mainly concerns transactions with final consumers for which no invoice is normally issued, such as in retail trade or the catering sector. Individual transactions are not recorded; instead, the total daily amount is registered.
The mandatory details per day are:
- VAT tax base
- VAT amount
- applicable VAT rate (for example 4%, 5%, 10%, 22%)
3. Register of incoming invoices (registro acquisti)
The purchase register documents incoming invoices.
The mandatory details for each purchase invoice are:
- invoice number
- date of issue
- VAT tax base
- VAT amount
- applicable VAT rate (e.g. 4%, 5%, 10%, 22%)
- supplier data
Who is required to keep them?
All VAT-liable businesses and self-employed professionals must keep the VAT registers, regardless of whether they use the ordinary or simplified accounting system. Exceptions apply, among others, to taxpayers under the flat-rate scheme (regime forfettario).
These registers must be kept by the tax advisor and presented to the tax authorities upon request.