Loans And Mortgages Information

In the field of debt collection, the debtor is not necessarily an individual or a company. In some cases the claim involves recovering from the Exchequer and the taxpayer is the creditor.

We wonder if it is possible to compute the deduction in excess of tax credit if it was correctly stated in the annual declaration relating to the year it gained, but at the same time is not reported in subsequent statements because these are omitted.

As repeatedly stated by the Court of Cassation, if the taxpayer receives a tax credit for a given year and the exhibits in its annual statement, but fails to return it in the Declaration on the next year, we lose the right to deduct. The forfeiture of that right only in cases where the claim tax paid is not reported even in the first statement useful.

The failure to the annual statement exposes the taxpayer to establish inductive, and preclude the possibility to deduct VAT paid in the period on purchases of goods and services, if the VAT that is not recorded in the monthly or liquidations quarterly. However in the latter case, the taxpayer is not entitled to the amounts deducted from the due credit that has accrued in the previous period and for which he has called for the next deduction.

In the case of non submission of the annual statement, to determine the tax due shall be taken off all the payments relating to the period, the claim of the previous year, as well as taxes that are deductible from liquidations regularly performed. This confirms clearly the use of credit indicated in the declaration and asked in a subsequent reduction in annuity for which it has not been presented with the Annual Tax Statement.

Let’s make a practical example. If the annual statement for the year 2004 the taxpayer has opted for deduction in the computation of the tax credit in the following year, but then failed to submit VAT declarations for the years 2005 and 2006, which has presented over 90 days the deadline for submission, however, the claim should not be lost and may be offset in the periodic liquidation of the following years.