VAT Recovery

VAT Recovery can be carried out:

• After the unsuccessful outcome of an enforcement procedure (foreclosure), following a legal action.
• At the end of a competitive procedure and following the final plan for the allocation of assets. In the latter case, the basic condition for the recovery of VAT is the submission of the application for admission to taxable income and its subsequent acceptance.

At soon the credit is allocated in the taxable state, VAT will be recovered.

Our service includes:

• Presentation of judicial documents (Injunction to pay, writ of execution) and requests for admission to the taxable income, through our Legal Department
• Regular monitoring of the insolvency procedure
• Advice for the emission of the VAT variation note and subsequent recovery of the tax, according to the indications and criteria provided by IRS

Tax Deduction

Commercial enterprises with an annual turnover of more than € 150.000.000 can carry in tax deduction (under the profile of the direct taxation), the credits of value uo to € 5.000, while if the annual turnover is less than € 150.000.000,000, the limit of deductibility drops to € 2,500

In both cases it is necessary to demonstrate the irrecoverability of the debt.

Requirements for irrecoverability:

• Report of irrecoverability produced by a third party (debt collection company) or a professional
• Opening of insolvency proceedings (bankruptcy, prior agreement, compulsory administrative liquidation, etc.)
• Disposal on a stand-alone basis, where deductibility is equal to the difference between the value of the debt and the sale price

Euro Executive is a company empowered to issue a special declaration for the registration of small amounts of bad debts.