Contribution by Dr. Giampaolo Provaggi published in Corriere Tributario 12/2021.

With the regulatory amendments made to the text of Article 26 of Presidential Decree No. 633/1972, by Legislative Decree No. 73/2021, the possibility of rectifying unreceived VAT has finally been provided for, from the moment of opening of the insolvency or “para-insolvency” proceedings. In order to definitively resolve the issue concerning the timing of tax rectification in case of non-collection, it appears necessary to await the indications of administrative practice. The innovation also involves insolvency proceedings and the neutrality thereof with respect to VAT rectification, to be applied within the limits of the indications provided by the Court of Cassation, which are deemed to maintain their validity.