The decree-law of 24 April 2017 n.50, better known as "Corrective maneuver 2017" (hereinafter the VAT Decree) has made significant changes in terms of VAT deduction on purchases and on the import of goods and services by taxable persons of tax. In particular, article 2 of the aforementioned decree has reduced the term within which taxable persons can deduct VAT. With circular no.1 of 17 January 2018, the Revenue Agency provided operational clarifications for the correct application of the new provision, taking into account the principles established by the EU directive no, 2006/112 / EC according to which the right to deduction arises in the same period in which it arose and is in any case conditional on the possession of an invoice drawn up correctly.
Newsletter no. 3/2018
