- The Court of Cassation has ruled that taxpayers who produce or transform gold into investment gold can deduct VAT, even if the processing is done by third parties on their behalf, provided that the goods retain the “identification mark”.
- The right to deduct VAT applies whether the processing is done by the taxpayers themselves or by third parties on their behalf.
- However, in the latter case, it is necessary for the goods to retain the “identification mark” as specified in article 7 of Legislative Decree 251/99.
- The Court of Cassation analyzed the EU regulations on the matter, highlighting that the VAT exemption for the supply of investment gold was introduced to enhance the international competitiveness of the EU gold market.
- The Court recognized that both “producers” and “transformers” of generic gold into investment gold are entitled to the right to deduct VAT.
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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