The Italian Supreme Court has recently ruled that VAT wrongly charged on an exempt transaction cannot be deducted by the buyer.
This decision is in line with the conditions for deduction under Directive 2006/112/CE.
In the event that the purchaser still deducts this VAT, he could be fined an additional 90% of the amount of the wrongly deducted VAT.
Source: ASD Group
ASD Group works for you using the latest software technologies available and the advanced skills of our teams. Contact us for more information!
On 11 December 2024, the Senate of the Czech Republic approved an amendment to the Value Added Tax (VAT) Act. Among other things, this revision…
From 1 October 2024, the reduced rate of VAT in the Autonomous Region of Madeira will be 4% (instead of the current 5%). This…
1455 Rue Drummond, Bureau 2B
Montréal QC H3G 1W3
Canada
