- The Italian Supreme Court ruled that non-deductible VAT related to non-existent transactions is not a deductible business expense.
- The issue concerns the deductibility of non-deductible VAT disallowed by the tax authorities for non-existent transactions.
- Generally, VAT is non-deductible as per the law, but if it cannot be recovered, it may be argued to represent a cost.
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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