From paper to digital: a transformation that is now well established
The progressive digitisation of administrative and accounting processes has made electronic bookkeeping and record keeping no longer an option for efficiency, but a fully recognised legal reality.
LArticle 2215-bis of the Civil Code, together with the regulations on the digital storage of electronic documents, now allows companies to abandon paper media definitively, provided that the procedures established to guarantee the authenticity, integrity, legibility and probative value of the documents are complied with.
However, dematerialisation is not simply a matter of scanning or archiving files: it is a structured process that requires rigorous technical and legal procedures. Understanding how to correctly create, store and manage a digital accounting ledger is essential in order to avoid penalties and disputes.
The two methods of electronic storage: substitute storage and printing on demand
Italian law provides two alternatives for the digital management of accounting records. These are two distinct paths, with different operational and legal implications.
- Substitute storage (optical archiving)
It is a computerised and legal process that attributes original value to electronic documents, allowing the corresponding paper documents to be destroyed. Through this process, paper documents are replaced with digital equivalents that have full legal value.
This result is achieved by digitising documents and storing them in accordance with the rules of compliant storage, which ensure integrity, authenticity and temporal validity over time through tools such as digital signatures and time stamps.
Thanks to this process, companies can eliminate paper archives, reducing costs and storage space, while maintaining the same legal validity as the original documents.
Regulatory reference: Article 2215-bis of the Italian Civil Code and AgID technical storage rules.
in practice
- Generation of the electronic document – Accounting books and records (e.g. journal, inventories, VAT registers) are produced in electronic format, preferably PDF/A, which guarantees long-term preservation.
- Affixing of the digital signature – Affixed by the entrepreneur or his delegate, the signature guarantees authenticity and non-repudiation.
- Time stamping – This must be applied at least once a year to certify the document’s date and make it enforceable against third parties
- Storage in a compliant system – The signed and timestamped document must be stored in a storage system that complies with AgID requirements and is capable of ensuring integrity, accessibility and legibility over time (see the AgID guidelines on the digital storage of electronic documents).
- Preservation manual – It is advisable (and mandatory for accredited entities) to prepare a document describing the process, responsibilities and parties involved.
Timing: the digital signature and time stamp must be applied within three months of the deadline for submitting the tax return for the financial year.
Legal validity: Accounting records created and stored in this manner have the same probative value as paper records (Articles 2709 and 2710 of the Italian Civil Code), provided that the process guarantees their inalterability and legibility over time.
In the event of judicial liquidation, the court will request the filing of digital files, thus confirming the full legal validity of this method of storage.
Stamp duty on digital accounting books
The digital storage of accounting records does not exempt you from paying stamp duty. For records stored electronically, stamp duty is paid virtually in accordance with Ministerial Decree of 17 June 2014.
The amount due is €16.00 for every 2,500 entries or fractions thereof, payable using form F24 within 120 days of the end of the financial year (normally by 30 April of the following year).
The tax must also be indicated in the annual tax return, stating the number of entries and the amount paid.
In the case of mechanical filing with printing on demand, no paper stamp is required until printing takes place. In this case, the tax is paid in the traditional manner with a €16 stamp duty for every 100 pages or fraction thereof before the registers are presented to the control bodies.
- The mechanical record (“print on demand”)
Alternatively, accounting records may be kept in electronic form, without resorting to substitute storage, provided that they can be printed immediately upon request by the supervisory bodies.
Regulatory reference: Article 7, paragraph 4-ter, Decree Law 357/1994.
Operating conditions
- The records must be constantly updated in the computer systems;
- In the event of access, inspection or verification, the records must be able to be printed at the same time and in the presence of the verifiers;
- This obligation remains even if the accounts are kept by an external consultant: the entrepreneur must ensure that the data is immediately available.
The case law on legitimacy is very strict and has repeatedly stated that failure to print immediately constitutes a substantial irregularity, as it would prevent the accounting situation from being ‘frozen’ on the date of access.
In other words, the possibility of producing deferred printouts is not equivalent to regular record keeping.
The main regulatory changes: a consolidating framework
In recent years, although there have been no fundamental changes, the legislator has introduced important measures to clarify and strengthen the regulatory framework.
The Cartabia Reform (Legislative Decree 149/2022)
Although it does not directly affect accounting records, the reform has confirmed the full probative value of digital documents.
Article 196-octies of the Italian Code of Civil Procedure establishes that electronic copies of court documents have the same value as the original, even without certification by the court clerk, and allows defence lawyers and trustees to extract certified copies independently.
This is a strong signal: the legal system recognises the reliability of digital documents, indirectly reinforcing the validity of accounting records stored in electronic format.
The Fintech Decree and DLT technology (CONSOB Resolution No. 22923/2023)
The regulation of digital registers based on distributed technology (blockchain) follows the same key principles as digital preservation: integrity, authenticity, non-repudiation and security.
This is a sign of regulatory continuity, extending the criteria for preservation to even the most innovative forms of electronic recording.
With Resolution No. 22923 of 2023, CONSOB implemented the so-called Fintech Decree (Decree Law No. 25/2023, converted into Law No. 52/2023), introducing the Regulation on the issuance and circulation of financial instruments in digital form. With this resolution, Italy aligns itself with the latest European directives on Digital Finance and Distributed Ledger Technology, laying the foundations for a more modern, transparent and accessible financial market, in which digital registers guarantee the same reliability as traditional systems, but with greater efficiency and traceability.
The measure defines the rules for the use of Distributed Ledger Technology (DLT) for the issuance, management and transfer of financial instruments, outlining an innovative regulatory framework that is consistent with the principles of transparency and market protection.
The main objective is to promote the digitisation of Italian financial markets, allowing the issuance and circulation of natively digital financial instruments, in compliance with the security, integrity and traceability requirements imposed by law.
- Creation of digital registers
The regulation governs the establishment and management of DLT registers, which represent the technical infrastructure on which digital financial instruments are issued and transferred.
These registers must guarantee the integrity, authenticity and validity of entries, ensuring that each transaction is traceable and unalterable.
- Registration and role of registry administrators
CONSOB has established a list of “register managers,” which includes authorised intermediaries, issuers, or specialised companies.
These entities are responsible for managing and certifying the proper functioning of digital registers, overseeing security and updating entries.
- Requirements for issuance and circulation
The regulation sets out in detail the operating conditions for the issuance and transfer of digital financial instruments.
Technical and procedural criteria are provided to ensure that each transfer of ownership is certain, traceable and compliant with civil and financial law principles.
- Integrity, transparency and identification
DLT registers must allow the identification of owners at all times, as well as the type and quantity of instruments held.
This requirement is essential to maintain market transparency and ensure the possibility of verification and control.
- Interoperability with the traditional financial system
One of the most innovative aspects of the regulation is its emphasis on compatibility and interoperability between new DLT registers and traditional financial infrastructures (such as central depositories and settlement systems).
The aim is to create an integrated ecosystem that promotes collaboration between established financial institutions and fintech operators.
6. Scope of application
The regulation applies to the issuance and circulation of digital financial instruments, including outside regulated markets.
This opens up the possibility, particularly for SMEs, to issue debt or equity instruments on blockchain, expanding financing opportunities through innovative and secure channels.
The new Taxpayers’ Charter (Legislative Decree 219/2023)
Article 8, paragraph 5, reiterated that the obligation to retain records and documents, including accounting records, cannot exceed ten years from their creation or use.
After this period, the tax authorities can no longer base claims on that documentation.
The provision reinforces a principle already expressed in Article 2220 of the Italian Civil Code, but with a clearer and more protective wording.
Operational implications and recommendations for businesses
A structured approach is necessary to manage digital accounting correctly. Here are some key points.
- Choosing the right method
Substitute storage is currently the safest solution, as it confers full legal validity and eliminates the need for paper documents. Computerised storage remains a viable option, but requires organisation and attention in the event of an audit. - Entrepreneur’s responsibility
Even when accounting management or storage is entrusted to external centres, the final responsibility remains with the business owner.
3. Verification of storage systems
It is essential that the software used complies with the requirements of integrity, accessibility, traceability and security, as required by the AgID Guidelines and, for supervised entities, by the provisions of the Bank of Italy. - Deadline management and internal controls
Companies should schedule signing and time-stamping activities annually, verify the legibility of stored documents, and establish internal digital audit procedures.
4. Document the process
Maintaining an internal manual or log of the storage process is a good practice that allows you to demonstrate compliance in the event of an audit.
Conclusion
The digitisation of accounting books represents a decisive step towards more efficient, secure and transparent management of company documentation.
Recent legislative changes do not alter the underlying principles, but reinforce their soundness and reliability.
Optical archiving is not just a technological choice: it is an act of legal and organisational responsibility, requiring expertise, control and awareness.
Only the right approach — combining regulatory knowledge and operational rigour — allows you to fully exploit the advantages of digital technology, ensuring legal validity and peace of mind in your dealings with the Administration and supervisory bodies.
Studio Carone remains available for any clarifications.