ITALY Input VAT recovery – Statutory period of limitation


Input VAT recovery – Statutory period of limitation

Up to day, input VAT could be recovered at the latest within the annual VAT return at the end of the second year following the year in which the VAT became payable.

Under the new regulation, input VAT has to be reported no later than in the annual VAT return of the same year where VAT is charged, i.e. VAT on purchases made in 2017 will need to be included in the 2017 annual return to be submitted by April 30th 2018.

This new regulation is already being challenged and amendments might arise. Updated information will follow if needed.

Source: VAT News N° 5 2017