Law Decree no. 50/2017 was turned into law starting from 24 June 2017 by Law no. 96/2017.
As concerns the new terms for the posting of purchase invoices and the right to deduct input VAT, included under art. 2 of the abovementioned Decree, Law no. 96/2017 introduced only one change compared to the original Decree version, which concerns the right to deduct input VAT relevant to invoices issued up to 31 December 2016.
However, there are still many uncertainties concerning the correct exercise of the right to deduct input VAT, due to the reduction of the period of time within which VAT taxable persons can exercise such right. Therefore, practical solutions should be applied and interpretations provided, especially with the support of the Tax Authorities, which will hopefully provide a prompt and accurate clarification on the new provisions.
For further information, please contact Mario Spera.
