- Italian Revenue Agency issued Letter No. 203/2024 regarding tax consequences of waiving a VAT claim
- Taxpayer wanted to waive claim as unrecoverable before creditor’s bankruptcy concluded
- Tax Agency stated taxpayer couldn’t issue VAT variance notes
- Reasons: waiving claim didn’t meet conditions for modifying taxable amount, and had to wait for bankruptcy conclusion to determine claim’s recoverability
Source: news.bloombergtax.com
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.
