Italy: Value Added Tax consequences of ceasing a business activity

20 March 2019
Italy Value Added Tax Consequences Of Ceasing A Business Activity


On March 11, 2019, the Italian Tax Authorities released Resolution No.34 which gives clarifications on the VAT consequences of the termination of business activities. In the case where the heirs of a taxable person decide not to continue the applicable business activity they are required to notify the tax office and finalize the deregistration process, however where there are outstanding invoices to be issued or paid, the VAT status of the taxpayer may remain active for a longer period.

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