- Self-consumption, withdrawal from business use, use for non-business purposes, and allocation to shareholders can create taxable income effects: for direct taxes, the gain is generally calculated using the normal market value of the asset.
- For VAT, self-consumption is relevant only if input VAT was deducted, in whole or in part, when the asset was acquired.
- The VAT taxable base is the purchase or cost price determined at the time of withdrawal, adjusted for the asset’s residual value.
- The tax treatment differs depending on the nature of reserves used in connection with the transaction.
- For direct taxes, the rule applies to business assets and assets used by professionals when they leave the business/professional sphere without an arm’s-length sale.
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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