In the absence of sale to third parties or return of the goods within the term of one year from delivery, in the event of an estimation contract of longer duration, the tax law requires the taxation to be brought forward for VAT purposes only, although the transfer effect of ownership, according to civil provisions, has not yet taken place.
Source: ipsoa.it
Latest Posts in "Italy"
- Cultural Services Exempt from Taxation: Guided Tours Qualify, Bridge Crossing Does Not
- Delays in Contracts: Payments to Contractors Subject to VAT, Not Compensation
- Italian Tax Agency Confirms Exclusion of Asset Sales from VAT Deduction Pro Rata Calculation
- VAT Implications for ‘Free’ Online Services: Legal Challenges and Potential Impact on SMEs
- Normal Value in VAT: Application in Non-Monetary Transactions and Special Cases
