News, Transactions
The Firm assists one of the largest Italian airport management companies with a ruling on the deductibility of VAT on expenses incurred on third party assets
Tremonti Romagnoli Piccardi e Associati successfully assisted one of the largest European players operating in the transport infrastructure management sector in a ruling on the deductibility of VAT paid on expenses relating to non-owned assets that were not used in carrying out the business activities, but whose incurrence was expressly provided for by the sector regulations.
In accepting the taxpayer’s reasons, the Italian Revenue Agency affirmed that when certain charges are incurred in compliance with a legal obligation, specifically connected to the type of business activity carried out, then these must be considered inherent for the purposes of tax deductibility, being irrelevant the fact that they are incurred on third party assets.
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