The taxable amount can be reduced in the case of cancellation, refusal or total or partial non-payment after the supply takes place under conditions which are determined by the Member States.
When a VAT taxable person starts the procedures for the judicial annulment of a contract, it can issue the credit note before the end of the judicial proceeding.
Source: Italian Tax Administration – Guidance No. 11 of the 6 August 2021 (in Italian)
Fausto Capello
Gianni & Origoni
Latest Posts in "Italy"
- 10% VAT on Energy Efficiency Services for Public Housing ESCo Contracts
- Italy Introduces 5% Tolerance for Payment Data Discrepancies Under Omnibus Decree
- 10% VAT on Residential House Resales: Limits for Tourist Complexes
- Italy Extends VAT Deduction and Invoice Registration Deadlines
- VAT Committee: Transfer Pricing Adjustments at Variable Prices May Be Relevant
