- The EU extended Italy’s authorization to restrict input VAT deductions for motorized road vehicles used partly for non-business purposes.
- Italy can continue limiting VAT deductions to 40% of related vehicle expenses.
- The authorization is now valid until December 31, 2028.
- Italy must request any further extension by March 31, 2028.
- The decision took effect upon notification.
Source: news.bloombergtax.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.
Latest Posts in "Italy"
- Credit Notes for 2025: Issuance Deadline and VAT Declaration Rules Explained
- Italian Revenue Agency Updates RT Technical Specifications to Version 11.2: Key Changes Explained
- Italy Clarifies VAT Rules, Delays Import Fee, and Amends Tax Laws Effective March 2026
- European Delegation Law: First Step Toward Digital Age VAT Reform and Implementation of ViDA Package
- Electronic Invoicing to Public Administration: Rules, Obligations, Split Payment, and Payment Terms Explained
