Faster recovery times for non-performing VAT credits. This is what was provided by Article no. 90 of “August” Decree, approved by Council of Ministers, which will rewrite the wording of Article no. 26 of Presidential Decree no. 633\/72, regarding terms for issuing VAT credit notes.<\/p>\n
With regard to bankruptcy proceedings, VAT credit notes will be issued by provider as from the date on which purchaser will be declared bankrupt. If the claim will be subsequently satisfied, an adjustment to opposite sign shall be made.<\/p>\n
In case of small claims, i.e. of an amount not exceeding \u20ac 5.000,00 for large companies and not exceeding \u20ac 2.500,00 for other companies, VAT will may be recovered after six months from the due date of payment, regardless of bankruptcy proceedings.<\/p>\n
These provisions will have retroactive effect and will also apply to bankruptcy procedings in progress at date of entry into force of Decree.<\/p>\n
The legislative action has aligned the rules for VAT recovery with those for income taxes, according to article no. 101 of TUIR. So, credit losses deductions of income tax will temporally match to uncollected VAT recovery.<\/p>\n
<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Faster recovery times for non-performing VAT credits. This is what was provided by Article no. 90 of “August” Decree, approved by Council of Ministers, which will rewrite the wording of Article no. 26 of Presidential Decree no. 633\/72, regarding terms for issuing VAT credit notes. With regard to bankruptcy proceedings, VAT credit notes will be […]<\/p>\n","protected":false},"author":125,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[50],"tags":[],"class_list":["post-10844","post","type-post","status-publish","format-standard","hentry","category-insights"],"acf":[],"yoast_head":"\n