- Unilateral waiver of a credit that cannot be recovered does not result in a decrease in VAT
- Agency of Revenue’s interpretation differs from the principle expressed by the judges in a previous ruling
- Case involves non-payment due to insolvency proceedings before May 26, 2021
- Previous legislation only allowed credit notes after unsuccessful conclusion of insolvency proceedings
- Agency rejected suggestion to treat credit waiver as similar to resolution, rescission, annulment, or dissolution of original contract
- Italian legislation allows recovery of VAT in specific events, as per EU directive 2006/112/EC
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.
