2022 registered VAT deduction for 2021 invoices received in 2022

Invoices relating to purchases made in 2021 but received in 2022 allow the VAT deduction only in 2022. This can be seen not only from the provisions of the VAT decree (Article 19) – which, in regulating the right to deduct the tax, makes it subject to the occurrence of a double requirement (substantial and formal) – but also from the wording of the art. 1, paragraph 1, Presidential Decree no. 100/1998, which grants the possibility of exercising the right to deduct VAT relating to the purchase documents received and noted by the 15th of the month following the one in which the operation was carried out, with the exception of the purchase documents relating to operations carried out in the previous year.

VAT deduction

The discipline of the VAT deduction ex art. 19, Presidential Decree no. 633/1972 has undergone significant changes due to the 2017 corrective maneuver (Legislative Decree no. reduced l’time interval within which the deduction can be exercised.

Specifically, in light of the changes and clarifications made by the Revenue Agency with the circular no. 1 / E of 2018, the right to deduct can be exercised when the double occurs condition:

substantial: chargeability of the tax (coinciding with the execution of the transaction on the basis of the criteria set out in art. 6, Presidential Decree no. 633/1972);

formal: possession of a valid invoice (drawn up in accordance with the provisions of art. 21, Presidential Decree no. 633/1972).

Therefore, in concrete terms, in the case of the sale of movable goods, once the operation has been verified, i.e. that the goods have been shipped or delivered to the customer, in order to deduct it is necessary that the subject receives the relative invoice and registers it within on the 15th day of the following month to allow VAT to participate in the payment of the period relating to the month in which the operation was carried out.

Eg

Suppose you have purchased goods delivered on 24 March 2021 and that the relative invoice has been received and registered in the appropriate register on 26 March 2021: the tax relating to this operation contributes to the VAT settlement in March, to be paid by on April 16, 2021.

However, the doubt that arose following the changes introduced in 2017 was whether the aforementioned conditions necessarily had to occur in the same month so that VAT could compete in the payment relating to the same month.

Speaking on the formulation of art. 1, paragraph 1, Presidential Decree no. 100/1998, art. 14 of Legislative Decree no. 119/2018 has The problem is solved.

In fact, taking into account the terms connected to the issuance of the invoice, especially with specific reference to the electronic invoice, which could be delivered after the period in which the tax becomes payable, the possibility is granted to exercise the right to deduct the relative VAT. to the purchase documents received and noted by the 15th of the month following the one in which the operation was carried out, with the exception of purchase documents relating to operations carried out in the previous year.

In other words, it is allowed in the liquidation to be carried out by the 16th of the following month me too’VAT relating to transactions carried out in the previous month but with reception and registration of the related invoice by that date (the rule refers to taxpayers with monthly VAT settlement, but similar considerations should also apply to taxpayers with quarterly VAT settlement).

In this way, therefore, the transferee / client is granted the possibility of calculating the VAT charged to him in the invoices received in the settlement of the period in which the transaction is considered carried out and therefore the tax has become chargeable, but only on condition that the invoice has been delivered and registered by the 15th of the following month to that of carrying out the operation.

Invoices at the turn of the year

Tale faculty not it was though extended to transactions carried out in a tax year, whose invoices are received innext year. In this case, in fact, the right to deduct the tax can only be exercised in the year in which the invoice is received. The identification of the date of receipt of the invoice it therefore represents a relevant moment for the purpose of identifying the moment from which VAT can be deducted.

On the subject, it should be remembered that the time of execution does not necessarily coincide with the date of issue of the invoice, since the latter can be issued within 12 days from the time of carrying out the operation, pursuant to art. 21, paragraph 4, Presidential Decree no. 633/1972.

The date corresponding to the moment of carrying out the operation is indicated in the invoice, while the date of transmission of the same, as also specified by the Revenue Agency in circular no. 14 / E / 2019, is unequivocally certified by Interchange System.

Operation execution

Receipt of invoice

Invoice registration

Time of VAT deduction

Deadline for VAT deduction

23 October 2021

October 30, 2021

October 30, 2021

November 16, 2021

Annual VAT return for the year 2021 – April 30, 2022

23 October 2021

November 15, 2021

November 15, 2021

November 16, 2021

23 October 2021

November 17, 2021

November 17, 2021

December 16, 2021

23 October 2021

November 17, 2021

December 3, 2021

January 16, 2022

23 October 2021

December 30, 2021

January 3, 2022

Annual VAT return for the year 2021

(registration of the invoice in a special section)

December 27, 2021

January 4, 2022

January 4, 2022

February 16, 2022

Annual VAT return for the year 2022 – April 30, 2023

Example n. 1

Suppose you made a purchase on December 27, 2021 and that the relevant invoice was issued and received on January 4, 2022, the related VAT will be admitted as a deduction only in 2022, i.e. only in the year in which both the prerequisite occur substantive and formal to exercise this right.

Therefore, the invoice received in 2022 will be eligible for the first VAT payment of the year (16 February 2022 – assuming they are monthly) and up to the deadline (30 April 2023) for submitting the annual VAT return for the year 2022.

Example n. 2

Let’s assume that you made a purchase on October 23, 2021 and that the relevant invoice was issued and received on December 30, 2021, but registered only the following year (on January 4, 2022).

In this case, given that both conditions for exercising the right to deduct occurred in 2021, the deduction relating to this purchase invoice will be accepted at the latest by the deadline for submitting the annual VAT return for the year 2021 ( i.e. 30 April 2022).

Copyright © – Reproduction reserved

Leave a Comment