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"
- VAT Refund Requests for Italian Taxpayers in EU and Non-EU Countries by September 30
- Italian Court Rules IVA Deductible for Residential Buildings Used Professionally, Overturning Tax Practices
- EPPO Uncovers €17 Million VAT Fraud in Italy: House Arrests and Asset Seizures Executed
- EU’s One Stop Shop Regime Boosts E-commerce VAT Revenue, Simplifies Cross-border Transactions
- Italian Ministry Sets 6.4% VAT Compensation Rate for Agricultural Wood Sales in 2024-2025
