- The Italian tax agency has issued a circular regarding the consequences of leaving the simplified tax regime.
- The circular also provides guidance on how to adjust VAT deductions.
- Switching from the simplified regime to the regular regime results in the taxation of subsequent operations.
- However, it also allows the taxpayer to recover any unclaimed VAT on unused goods and services.
- This situation is covered by Article 19-bis2, paragraph 3 of the DPR 633/72, which addresses changes in the tax regime for active operations.
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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