VAT base reduced by bad debts; five-year limitations period (CJEU judgment)

The Court of Justice of the European Union (CJEU) issued a judgment holding that the date triggering the limitations period when taxpayers can reduce their taxable base for value added tax (VAT) purposes by amounts of bad debts is the date when the taxpayer establishes the irrecoverable nature of the debts.

Source: KPMG

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