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Free online VAT number check in Italy. Local name for VAT number in Italy is Partita IVA. Process of VAT number registration is maintained by the Ministry of Finance and the local tax offices. Standard VAT rate is 22% and reduced one is only 4%, 10%. Value Added Tax recovery time in Italy is 18 months.
VAT stands for value added tax; the tax includes both a general tax and a consumption tax based on a percentage of a given transaction. Each VAT number encodes a wide set of information and includes a set of characters that identifies the company to whom the number was issued.istory. The earliest implementation of the VAT number was in 1967, when the European Union issued the first directives relating to the value added tax system. The European Union in 1993 made fundamental changes to the way in which the tax functioned.