Falzarano Broker works with parties that manage a single foreign business or portfolios of many international operators.
We can assess structured procedures for data collection, preliminary risk qualification and the periodic submission of requests to insurance companies.
- Our expertise
What is VIES
VIES (VAT Information Exchange System) is the European system used to verify if a VAT taxable person is authorized to carry out intra-Community transactions. For non-EU/EEA businesses identified in Italy through an Italian VAT fiscal representative, the guarantee is a necessary condition for inclusion or permanence in VIES.
- Focus
When it is required
Whoever assumes a single representation must present the declaration relating to the subjective requirements, but is not required to provide the guarantee. Starting from two represented entities, the guarantee becomes necessary.
| Step | Description |
|---|---|
| First contact | The client or partner fills out the dedicated form and indicates the requested product. |
| Pre-screening | We verify the obligated entity, amount, duration, and available documentation. |
| Document collection | We organize the corporate, financial, tax, and operational data. |
| Risk presentation | We prepare the submission for the insurance company. |
| Underwriting assessment | We manage requests for additions and clarifications. |
| Proposal | In case of approval, we communicate the premium, conditions, and any counter-guarantees requested. |
| Issuance | We coordinate signatures, premium payment, and the release of the policy in compliance with the official facsimile. |
| Finalization | We support the documentary coordination with the Italian VAT fiscal representative and the competent Provincial Directorate. |
- Who must provide it
The obligation applies to non-residents of a European Union Member State or a State adhering to the European Economic Area who:
Who we work with
- Italian VAT fiscal representatives and tax law firms;
- accountants and tax advisors;
- service providers for foreign businesses;
- marketplaces and e-commerce platforms;
- companies that manage international VAT registrations;
- insurance intermediaries interested in specialist partnerships.
What we can set up
- a standard pre-screening questionnaire;
- a uniform document checklist;
- preliminary eligibility criteria, always subject to the insurance company’s approval;
- workflows for single or multiple requests;
- reports on the status of each application;
- communications in Italian and English, and documents prepared for translation.
Normally required documents
The insurance guarantee covers, within the guarantee limit and for the expected period, the total or partial payment of the sums due to the Tax Administration following administrative acts notified during the validity period of the guarantee.
- The documents
1
Chamber of commerce company registration, articles of association, and ownership structure of the Italian VAT fiscal representative;
2
Latest approved financial statements and updated economic-financial situation;
3
Number of represented entities;
4
KYC, AML procedures, and identification of ultimate beneficial owners;
5
Copy of the professional indemnity insurance policy held by the professional.
6
After acceptance, the policy is issued according to the official facsimile with a digital signature verifiable on the issuing insurer’s website.
7
The guarantee is delivered to the competent Provincial Directorate, which verifies its compliance.
Normally required documents
The actual documentation depends on the country, seniority, activity, and risk profile of the business.
- The documents
1
certificate of incorporation and updated extract from the business register of the country of origin;
2
articles of association or equivalent corporate document;
3
document of the legal representative and documentation of the ultimate beneficial owner;
4
ownership structure and group organization chart if available;
5
available financial statements or alternative economic-financial documentation;
6
description of the activity, website, and marketplaces used;
7
historical and expected turnover, with information on Italian and intra-EU transactions;
8
Italian VAT number and data of the Italian VAT fiscal representative;
9
any information on tax compliance and any disputes.
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Ongoing Support
Do you operate as an Italian VAT fiscal representative or plan to increase the number of represented entities? Communicate the number of representations and the main characteristics of the portfolio. We will indicate the guarantee limit and the documentation necessary for the underwriting assessment.
