When could You deduct VAT on purchased goods and services? Which are New Deadlines?

Following the amendment of Art. 19, co.1, D.P.R. 633/72, by Art. 2, D.L. 50/2017, the right to deduct shall arise at the time when the deductible tax (VAT) becomes chargeable, and it may be exercised within the next VAT Declaration (April of the next year).

Example:

• Purchase goods or services in the month of July;
• Invoice and Payment 31^th July;
• The right to Deduct VAT arise at 31 July;
• You can daduct VAT until 30^th April 2018 which is the deadline for the VAT Declaration 2017.

 

Attention:

With new deadlines is more important than before to hand over the accounting documents to your trusted accountant.