The Italian Supreme Court, in a recent ruling (n. 19945), addressed the use of the VAT credit limit (“plafond IVA”) in the case of transferring an immovable leasing contract. The dispute originated from a tax assessment notice issued to a company for incorrectly applying the VAT exemption regime to the transfer of a leasing contract. The court disagreed with the tax authority’s position, stating that the operation involved the transfer of a leasing contract, which falls under the category of service provision according to Article 3(2)(5) of DPR 633/72. Therefore, the VAT exemption provision of Article 8(1)(c) could apply.
Source: eutekne.info
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