- The Italian tax court disregarded VAT penalties on “dormant” companies following a ruling by the European Court of Justice.
- This is the first national decision to apply the EU court’s interpretation.
- Certain companies in Italy are considered “non-operational” if they do not meet specific thresholds for revenue, inventory increases, and income.
- The decision allows affected taxpayers to potentially recover lost credits through an amended tax return.
- Filing an integrative tax return is the preferred approach to assert the lost credit.
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.
Latest Posts in "European Union"
- Evaluating EU Rules of Origin: A Call for Public Input
- Briefing Document & Podcast: VAT on Land Registration – Analysis of Amărăşti Land Investment SRL (Case C-707/18)
- Understanding VAT Rules for Dropshipping: Compliance, Registration, and Cross-Border Sales Challenges
- EU Commission Proposes New Revenue Sources for 2028-2034 Budget, Including Corporate Contributions
- EU Customs Reforms 2028: Platforms Become Deemed Importers, Assume Duties and Compliance Responsibilities
