- The Italian Revenue Agency issued guidance on VAT obligations for heirs receiving professional fees.
- An heir received fees for services rendered by a deceased professional to a bankrupt company.
- The Agency clarified that heirs must fulfill VAT obligations even if the deceased’s VAT number is closed.
- Heirs must issue invoices for services rendered by the deceased.
- The bankruptcy trustee can issue a self-invoice for compensation payment to the heir.
- Compensation must be paid to the heir gross of tax.
- The heir is responsible for requesting the reopening of the VAT number if needed.
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.
