The budget Law (Bill n°6720) introduced a new procedure, effective as from 1 January 2015, for VAT-registered businesses which claim periodic VAT refunds.The VAT authorities are now bound by deadlines by which VAT refund claims must be considered and by which additional information can be requested from the taxpayer, if necessary. The non-observance of these deadlines triggers a right to default interest payment in favour of the taxpayers with respect to their legitimate VAT recovery claims.
In the event of refusal, the taxable person can initiate administrative and judicial appeal proceedings.
To find out more about the impact this new legislation may have on your business, please contact your PwC representatives:
+352 49 48 48 48 2060
+352 49 48 48 3009