Italy Extends VAT Deduction Deadlines and Introduces Tax Settlement Mechanism

• Italy’s “Omnibus” tax decree updates VAT compliance rules.
• It extends the deadline to claim input VAT deductions until the VAT return deadline for the second year after the invoice was received.
• This gives taxpayers more time to recover input VAT.
• It also introduces taxpayer agreements (“tax settlements”) using a preventive cross-examination process to resolve VAT disputes and improper credit offsets before formal litigation.

Source: regfollower.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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