27 August 2026
Under a new legislative decree issued in August, Italy introduced a positive law for businesses registered for VAT in the country. From 1 January 2027, taxpayers will effectively have a further year to reclaim VAT on purchases.
Since 2017, businesses have generally been required to recover VAT by the deadline for filing their annual VAT return for year in which the right to reclaim arose. This shorter timeframe created difficulties where purchase invoices were received late, identified after year end, or inadvertently omitted from the accounting records.
For non-resident businesses registered for VAT in Italy, the extended deadline should reduce the risk of losing legitimate VAT reclaims solely because of timing or administrative processing delays.
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