Your margin is set by law, and your VAT stays in credit.
FiscalPulse reads your Cassetto Fiscale monthly: VAT credit, refunds, payments due on the 16th.
€29 a month, up to 2,000 invoices a year · larger volumes on proposal · read-only
Sample company · illustrative data3.65%
Legal wholesaler share of class A retail prices, from 2025.
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Class A medicines are those reimbursed by the national health service, and from 2010 the share had been 3%.
Source: L. 207/2024, art. 1, c. 324; AIFA notice of 7 April 2025
60 days
Legal payment limit for Italian health service bodies.
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In 2024 the health sector paid in 35 days on average, with wide differences between regions.
Source: D.Lgs. 231/2002, art. 4, c. 5; Piattaforma dei crediti commerciali, 2024 data (BusinessOnline, 2025); Farmindustria (Quotidiano Sanità)
NSO order
Since 2021 health authorities cannot pay goods invoices without the NSO order reference.
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NSO is the national order routing hub that carries the electronic order.
Source: DM 27 December 2019, NSO technical rules (TeamSystem, 2021)
In a drug distributor’s report
VAT credit and refunds
With split payment, public clients pay the VAT to the State.
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The VAT on your purchases, meanwhile, has already left your account. The report shows the VAT credit in the Cassetto Fiscale every month and follows each refund from claim to payment. It tells you when the credit becomes usable, and when a refund stalls or ends up offset against a debt nobody remembered.
Margin 4.4% against a sector median of 2.0% · spend by category: transport and logistics 6.1%, warehouse rent 4.2%
Sample company · illustrative data
A legal margin, defended on costs
With the class A share fixed, margin is won on costs.
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Every month the report calculates the margin after purchases and payroll, sets it next to the median of companies with the same ATECO code (the Italian business activity code) and splits spending by supplier category: transport, warehouse rent, energy.
Customers buying less
One pharmacy cutting its orders vanishes among hundreds.
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The report picks it up from the invoice trend and emails you the amount and its weight on revenue. If you work mostly with hospitals and ASL (local health authorities), it measures every month how much revenue depends on your largest customers.
Payments due on the 16th
Next month’s VAT, known in advance.
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It sits next to contributions and recurring charges.
Dependence on one pharmaceutical company
Top supplier’s share of spending, monthly.
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You know how much rests on a single price list.
Collection times, measured on request
Estimated from the type of invoice issued.
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Actual times, authority by authority, are measured with analytical accounting linked to your bank accounts, on request with a proposal based on volumes.
For the bank or factoring company
Lenders look at payment regularity and recent numbers.
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Whoever advances cash against your receivables from pharmacies and hospitals finds them in the report every month, with a tax score on six dimensions.
The tax credit score is a complementary tool based on declared tax data. It is not a credit rating regulated under Regulation (EC) No 1060/2009.
Agenzia letters and the LIPE
Letters reach you by email as soon as they appear.
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The copy comes with them, straight from the Cassetto Fiscale. Every quarter the report compares the LIPE (quarterly VAT return) with the invoices issued and measures the gap.
Giulia shows what is inside and what reaches you every month.
Split payment makes the VAT credit structural
You pay the supplier 10% VAT on medicines.
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When you sell to a pharmacy you collect the VAT; when you sell to a health authority, the authority pays you only the net amount and pays the VAT straight to the State. The larger the public share, the larger the credit. Italian law lets you claim the credit arising from these sales back on a priority basis, and the report follows the claim from filing to payment.
Source: Art. 17-ter DPR 633/1972, extended to 30 June 2029 (ANCE, July 2026); DM 23 January 2015, art. 8; DPR 633/1972, Table A, part III
Medicine and device distributors
- Wholesalers supplying pharmacies, hospitals and health authoritiesATECO 46.46.10
- Depositaries for ASL medicines (distribuzione per conto, L. 405/2001, art. 8)ATECO 46.46.10
- Medical device and orthopaedic wholesalersATECO 46.46.39
ATECO 2025 codes, since 1 April 2025.
Getting started
Set up in about half an hour, then it runs on its own
- 01
You give us access to the Cassetto Fiscale.
The company’s Entratel or Fisconline credentials are enough: these are the logins an Italian company uses with the Agenzia delle Entrate.
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If you do not have them, we request them together through the company’s PEC, its certified email address, and they arrive in four to seven days. You can also appoint one of our partner accountants in Italy for read-only access.
- 02
We read the full history.
Invoices, F24 payments, LIPE, tax returns, letters from the Agenzia and credit registers: twenty-two document types, joined into a single reading.
- 03
You receive the report every month, in English.
A provisional version on the 3rd and the final one on the 18th, archived and ready to download.
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You also get an email every time the Agenzia writes to the company.
Your accountant in Italy keeps doing their job. If you like, they receive the report in copy.
€29 a month per Italian company, with the company’s own credentials
for companies with up to 2,000 invoices a year · cancel whenever you like
Cancel whenever you like, with no penalty. The yearly plan is paid in one instalment.
- Full monthly report, provisional on the 3rd and final on the 18th
- An email for every letter from the Agenzia, with the original attached and explained in English
- A reminder before every deadline
- Alerts on out-of-scale invoices and on customers who are buying less
- A version of the report to present to Italian banks and confidi (credit guarantee consortia)
- Archive of every past report, always available to download
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A hundred companies or more. Banks, leasing and factoring companies, credit guarantee consortia, networks and groups that follow at least a hundred Italian companies: we show you the engine in a demo on real positions from your portfolio.
An Italian company spends between €5,000 and €50,000 a year on its accountant, admin staff and software to produce the data that lands in the Cassetto Fiscale. For €29 a month, that data works for you too.
Questions
What does split payment change for a distributor?
On sales to public health authorities and hospitals you do not collect the VAT. The authority pays the net amount and sends the tax to the State. You still pay VAT on purchases, so a credit forms and grows with the public share of revenue. Split payment is extended to 30 June 2029. The report shows the VAT credit every month.
How do I follow a VAT refund?
Every VAT refund is followed from claim to payment, with an email if it stalls. A refund can be held by an administrative stop or offset against an old debt registered for collection. Knowing straight away lets you ask for an explanation before counting on money that is not coming.
Does it show what each ASL owes me?
It tells you how much you have invoiced each customer, ASL included, and estimates collection times from the type of invoice. The Cassetto Fiscale does not record payments received. The actual receivable from each authority, with the age of each invoice, is measured by linking your bank accounts in analytical accounting, on request with a proposal based on volumes.
Is the report’s margin the legal 3.65%?
The report shows the actual margin worked out from your invoices. The legal share is calculated on the retail price of class A medicines. The report subtracts purchases and payroll from invoiced revenue across everything you sell: medicines, over-the-counter products, devices and services. That is the margin the company keeps.
Does it contain patient or prescription data?
No. The report reads only the company’s tax documents: e-invoices between businesses and public bodies, F24 payments, VAT settlements, returns and letters from the Agenzia. Pharmacies appear as customers, with the revenue you make with them. Prescriptions, patients and health data never pass through a distributor’s Cassetto Fiscale.
What does it cost a distributor?
The €29 monthly price covers companies with up to 2,000 invoices a year. A distributor serving hundreds of pharmacies is usually above that threshold. For these volumes we prepare a proposal based on your numbers, including analytical accounting linked to your bank accounts if you want it. Write to us through the contact form.