- The Italian Revenue Agency updated the definition of amortizable assets for VAT refunds.
- This follows a Supreme Court ruling from 2024.
- VAT refunds now apply to third-party assets used for business over a medium to long term.
- Previous guidelines from 2005 are no longer current.
- Businesses can claim VAT refunds for improvements on assets they possess legally for a significant period.
- Refund eligibility depends on general VAT deductibility requirements.
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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