KPMG in Italy (Davide Morabito and Giorgio Dal Corso) obtained an important ruling from the Italian tax authorities (no 292/2020), that confirmed the possibility to file an amending VAT return including the conformity visa to obtain the VAT refund without the need to submit a bank guarantee.
The amending VAT return with the conformity visa could be filed (i) within the statute of limitations for the year concerned, e.g. the amending VAT return for the year 2015 could be filed by 2020; (ii) even if, in the meantime, the ITA requested the submission of a bank guarantee; and, (iii) despite the fact that, at the time of the original VAT return, the conformity visa could not be granted due to a lack of requirements, as long as these requirements are satisfied at the time of the amending VAT return.
This confirmation seems particularly helpful for those taxpayers that could not submit bank guarantees to the Italian Tax Authorities and are therefore still waiting to obtain repayments of their VAT receivables.
Read a pdf report prepared by KPMG in Italy.
