- The Italian Revenue Agency has clarified that a credit note for a reduced VAT amount can be issued for creditors of companies undergoing a court-approved restructuring plan.
- This applies to restructuring plans under Article 64-bis of Legislative Decree 14/2019 (CCII).
- The credit note can be issued only for the amount reduced by the restructuring plan, starting from the date of the court’s approval.
- This clarification was provided in response to an inquiry (n. 79) published by the Revenue Agency.
- The clarification is significant because the new Bankruptcy Code did not update Article 26 of Presidential Decree 633/72, which regulates the conditions for issuing VAT credit notes.
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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