Italy implements new tax measures via Omnibus decree

Italy has implemented new fiscal measures through Legislative Decree 148 of August 7, 2026, known as the ‘Omnibus’ tax corrective. According to an analysis by the Unimpresa Study Center, the decree introduces several changes regarding VAT and tax compliance.

Key updates include an extension of the timeframe for exercising the right to VAT deductions. Businesses can now recover VAT even if the invoice was not deducted in the year of receipt; for example, an invoice received in 2026 can be registered by the tax return period of 2028. This change aims to reduce the risk of losing credits due to administrative or accounting delays.

Additionally, the decree modifies collaborative compliance procedures. Sums owed following a response from the Agenzia delle Entrate can now be paid in a single installment or spread across up to 20 quarterly installments, allowing for a repayment period of up to five years.