- Italian Revenue Agency issued Answer No. 111/2024 clarifying group VAT settlement
- Taxpayer initiated group VAT payment procedure in 2005 as parent company of VAT group
- Taxpayer participated in new VAT liquidation group in 2017
- Taxpayer sought clarification on recovery method for VAT credit from 2004
- Tax Agency clarified that companies in group VAT settlement can’t include surplus in compensatory calculations from previous tax period
- 2004 VAT credit can be utilized by taxpayer but can’t be transferred to group
Source: news.bloombergtax.com
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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