The mere possession of an invoice does not legitimize the right to deduct the VAT indicated on it, which must be consistent with the underlying transaction. Consequently, the purchaser is not authorized to deduct improperly invoiced VAT if there is no correspondence between the paper representation and the actual economic transaction, or if such correspondence is not restored through the amendment procedure. This also applies when such restoration is no longer possible, as more than one year has passed since the invoice issuance date, which is the limit set by the VAT decree for issuing an amendment note in case of a subsequent agreement between the parties. The Italian Revenue Agency clarified this in response to inquiry no. 426 on September 11, 2023.
Source: ipsoa.it
