VAT Credit Refund or Offset for Q1 Due by April 30 with New TR Model

• IVA credit for the first quarter must be claimed by April 30
• Taxpayers can request a refund or use the credit for horizontal compensation in F24
• Depending on the credit amount, a compliance certificate or legal review may be required
• For refunds, a financial guarantee may be needed, such as a state bond or bank guarantee
• Horizontal compensation without compliance certificate is allowed if credit is 5,000 euros or less annually
• Compliance certificate is required if credit exceeds 5,000 euros annually
• Different thresholds apply for refund requests
• Refunds up to 30,000 euros can be requested with just the TR model
• Above 30,000 euros, a compliance certificate and a declaration of certain conditions are needed
• Financial guarantee is required under specific risk conditions
• Certain entities are exempt from providing a guarantee
• Higher limits for compliance certificate are available for those with specific ISA scores or those in a biennial preventive agreement

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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