- The topic concerns the recognition of the right to deduct VAT for renovation or maintenance work on properties owned by third parties, provided there is a connection to business or professional activity.
- The right to deduct VAT or claim a refund for deductible excess is recognized for renovations or maintenance on third-party properties held under lease, as long as there is a connection to business or professional activity, even if potential or prospective.
- Article 30, paragraph 2, letter c of DPR n. 633/72 refers to the terms purchase and depreciable assets, which should not be interpreted literally but understood as having availability through a legal title ensuring possession or long-term detention.
- The Italian Revenue Agency provided guidelines on the refundability of deductible VAT excess for work on third-party properties in a recent resolution.
Source: commercialistatelematico.com
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.
