Given that the contribution of assets is normally subject to VAT in the same way as any supply of goods or services, the Italian tax authorities with ruling reply 171/2024 clarify that the taxable amount of a contribution (not of a going concern) is equal to the capital increase, including the share premium, of the transferee company, plus the amounts paid by the latter to the transferor company as an adjustment of any difference between the value of the assets on the date of the appraisal and the value of the same assets on the effective date of the contribution, unless the open market value is applicable under Article 80, directive 2006/112/CE (as implemented in Italy by Article 13(3), Presidential Decree 633/1972).
Source Davide Accorsi (PwC)
Latest Posts in "Italy"
- VAT Treatment for Sale of Oceanographic Vessel to Research Entity Under Italian Law
- Constitutional Court Ruling Alters Customs Confiscation Rules for Unpaid Import VAT
- Legal Requirements for Issuing Credit Notes: Clarity and Proof of Original Invoice Connection
- New VAT Compliance Regime: Client Responsible for VAT Payment in Logistics Sector
- New Optional VAT Rule for Logistics and Transport Services Ahead of Reverse Charge Introduction
