Italy VAT on bad debts
- 17 February 2016 | Richard Asquith
Italy has loosened the rules around VAT on bad debts in its 2016 Stability Law (budget).
The changes include:
- The tax authorities will grant bad debt relief earlier in recovery court proceedings
- New rules for the recovery of VAT on bad debts for continuous supply contracts
- Output VAT may be recovered on a customer debt when the bankruptcy procedures launch – rather than on their ending as previously
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.