the Article 18 of Law Decree no. 73 of 25 May 2021 (Urgent measures related to the emergency from COVID-19, for businesses, work, young people, health and local services) amends the art. 26 of the Presidential Decree n. 633/1972 on the recovery of VAT on outstanding receivables towards customers subject to insolvency proceedings.
In particular, the new paragraph 3-bis has been introduced pursuant to which the right to recover VAT starts from the date on which the debtor is subject to an insolvency procedure (i.e. date of the sentence declaring the bankruptcy, of the decree of admission to the procedure of arrangement with creditors, etc.…).
With the Circular letter n. 20/E dated 29 December 2021, the Tax Authority provides significant clarifications on the new provisions of the above-mentioned art. 26.