The taxable amount can be reduced in the case of cancellation, refusal or total or partial non-payment after the supply takes place under conditions which are determined by the Member States.
When a VAT taxable person starts the procedures for the judicial annulment of a contract, it can issue the credit note before the end of the judicial proceeding.
Source: Italian Tax Administration – Guidance No. 11 of the 6 August 2021 (in Italian)
Fausto Capello
Gianni & Origoni
Latest Posts in "Italy"
- Amazon EU Faces Possible Trial in Italy Over Alleged Tax Evasion by Non-EU Sellers
- Italian Revenue Agency Confirms VAT Deductibility for SPVs in Leveraged Buy-Out Transactions
- Extraordinary Transactions and VAT Return: Rules and Model Completion for 2026 Filing
- VAT Refund Allowed for Costs Classified as Tangible Fixed Assets Under Construction: Supreme Court Ruling
- Italy Confirms 10% VAT for All Waste Transport, Excludes Landfill and Incineration Disposal
