Taxpayers can now choose to exercise their right to deduct VAT concerning invoices for transactions from the previous year received in the first fifteen days of January, according to the fiscal delegation law. This change overturns the limit imposed by DPR 100/98, which previously prevented “retro imputation” for documents issued around the year-end. To exercise the right to deduction, certain conditions must be met, including the tax’s due date and possession of a compliant invoice. The new law ensures that taxpayers aren’t financially disadvantaged due to delayed invoice receipt.
Source: eutekne.info
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