- A company issued an invoice under split payment regulations
- After a year, they needed to issue a credit note for an uncollected amount
- They asked if they could issue the credit note after the one-year deadline
- The company believed they could issue the credit note due to non-payment
- The tax agency’s opinion is based on the assumption that the invoice was unpaid
- The tax code allows for adjustments to taxable amounts if an operation is cancelled or reduced
- The company must follow the tax code regulations for issuing credit notes
Source: agenziaentrate.gov.it
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 "Italy"
- Unregistered Purchase Invoices: Is the Right to VAT Deduction Still Valid?
- VAT Exemption for High Seas Navigation: Conditions for Public Entity Ship Purchases
- 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
- VAT Treatment for Sale of Oceanographic Vessel to Research Entity Under Italian Law
