FatturaPA version 1.1 mandatory as of February 2015

Tuesday 18 November 2014 09:52 CET | News

As of February 2, 2015, Italian taxpayers will be required to use electronic invoice version 1.1.

This new format, incorporating comments and suggestions from users, came into being to improve data representation and avoid any related technical issues. However, to date the current version is the only one accepted by the Interchange System platform (SDI).

Although implementation of FatturaPA is proceeding apace in Italy, with rapid expansion of the system among taxpayers, there are still some technical issues to be improved. As reported in a study by the Polytechnic University of Milan, in June 2014, 40% of electronic invoices were rejected because they failed to meet requirements. One month later, in July 2014, the percentage had fallen off to 26.5 %, but still remained higher than expected.

The rollout of version 1.1 in February 2015 is expected to enhance electronic billing transactions with the Administration. This format, which was originally approved on August 8, 2014, was amended in September 2014, to include new payment methods in the “ModalitaPagamento” list of values and increase the maximum size of the “CodicePagamento” field.

Along with the XML schema and the technical specifications of FatturaPA version 1.1, the Italian Government has published other documents of interest to users. Among them, a series of tips on electronic invoicing with the Administration, which can read here.

Ministries, the Tax Agency, the State security apparatus and their suppliers have all been using mandatory electronic invoicing in their business relations since June, 2014. The rollout of this new system is due to be completed in March 2015, with the inclusion of the remaining public organisations, including local bodies.

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Keywords: FatturaPA, version 1.1, mandatory, electronic invoice, taxpayers, Interchange System, platform, SDI, Italy, XML
Categories: Banking & Fintech
Countries: World
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