- VAT deduction is allowed when VAT becomes due, typically at the time the transaction occurs.
- To deduct VAT, the invoice must be received and recorded in the purchase register.
- For invoices dated December but received in January, VAT deduction cannot be retroactively applied to December; it must be deducted in the first VAT return of the new year.
- The deduction can be exercised up to the deadline for the annual VAT return for the year the invoice is received.
- Special registration is required for invoices received in the following year but related to the previous year.
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.
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