During a recent video conference with specialized press, the Italian Tax Agency clarified that a 5% VAT rate applies to social cooperatives, even if they become commercial entities within the Third Sector. This applies regardless of the nature of the Third Sector entity. The agency also confirmed that the reduced VAT rate can be applied to social, healthcare, and educational services provided by these cooperatives. Additionally, they can donate goods, including instrumental assets, without VAT for social purposes. The agency allows the consideration of such goods as destroyed, eliminating the need for VAT, as long as the right to deduct the tax paid upstream is recognized. This applies even if the cooperatives have a commercial nature within the Third Sector. Finally, the agency provided clarification on reducing and annotating VAT adjustments in the case of issuing credit notes.
Source: eutekne.info
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