Supreme Court victory for the Firm on the right to VAT deduction
The Firm’s team, composed of partner Giancarlo Zoppini and associate partner Laura Puddu, successfully assisted a company operating in the real estate trading sector before the Supreme Court in a refund case relating to the effects on the right of deduction (VAT) of a legislative amendment (art. 35, eighth paragraph, letter a), Legislative Decree 4 July 2006, n. 223) that occurred during the tax period for which the previous taxable rule was transformed into an exemption rule.
Expressly departing from some previous indications to the contrary, the Supreme Court accepted the Company’s thesis, acknowledging for the purchaser, in accordance with the superordinate EU principles, the right to the “full” deduction of the tax levied upon it for the transactions carried out while the taxable rule applied, that is, prior to the legislative amendment. This is the case even though the transactions, relating to the aforementioned real estate assets and occurring after the introduction of the new rule, fall under the exemption rule.
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