The Italian Revenue Agency issued Answer No. 111/2024, providing guidance on group VAT settlement. The taxpayer, as the parent company of a VAT group since 2005, joined a new VAT liquidation group in 2017 and sought guidance on recovering a VAT credit from 2004. The Tax Agency clarified that since 2008, companies in a group VAT settlement cannot use their surplus for VAT credit compensatory calculations from the previous tax period. Additionally, while the taxpayer can use the 2004 VAT credit, it cannot transfer it to the group.
Source GlobalVATcompliance
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