Art. 7 D.L. 185/2008 has been enforced (experimentally for years 2009 to 2011) with art.1 D.M. 26/03/2009 published in the G.U. 27/04/2009 on VAT payment rules.
It's now possible to pay the VAT on invoices issued when the payment has actually been received, not with regard to the invoice date. However you need to put in the invoice “Operazione con IVA ad esigibilità differita ex art.7 D.L. 185/08″. There are some exceptions and everything obviously needs to be overseen by a commercialista but this will be a great help for everyone running a business in Italy. For example, some clients of mine pay me 90 or even 120 days from the end of the month of the invoice date, by which time I have had to pay the VAT on the invoice before I even get my money. Now that will change, it will be a great help with cashflow for small businesses. :yes:
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