- Under the group VAT liquidation regime per article 73 paragraph 3 of DPR 633/72, the controlling company must determine the total tax amount owed by the group through algebraic sum of debts and credits from all participants’ liquidations
- The parent company bears responsibility for paying any debit excess to the Treasury and choosing how to use any credit excess resulting from periodic or annual consolidated liquidations
- When the annual declaration or summary statement submitted by the controlling company shows an excess of deductible VAT, this can be used in the year
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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