The Italian Supreme Court, in a recent ruling (n. 19945), addressed the use of the VAT credit limit (“plafond IVA”) in the case of transferring an immovable leasing contract. The dispute originated from a tax assessment notice issued to a company for incorrectly applying the VAT exemption regime to the transfer of a leasing contract. The court disagreed with the tax authority’s position, stating that the operation involved the transfer of a leasing contract, which falls under the category of service provision according to Article 3(2)(5) of DPR 633/72. Therefore, the VAT exemption provision of Article 8(1)(c) could apply.
Source: eutekne.info
Latest Posts in "Italy"
- Reduced VAT May Not Apply to All Hotel Ancillary Services, Says EU Court
- First Mandatory POS and Cash Register Link Due by April 20 for January Electronic Payments
- VAT Refund Allowed When Debtor Is in Prolonged Insolvency, Rules Supreme Court
- New Web Service to Link POS and Cash Registers Launches, Registration Required Within 45 Days
- Increased VAT Credit Offset Limit to €70,000 for High ISA Score Taxpayers
