2025 invoices received in 2026: how to behave on the front of VAT deduction and of cost deduction?
The management of invoices at the turn of the year has always raised doubts, and it is therefore good to summarize the rules to follow.
The reference legislation is contained inarticle 6 of Presidential Decree n. 633/1972 and, despite the changes envisaged as part of the implementation of the enabling law on tax matters, there are currently no new developments.
2025 invoices received in 2026: the rules for VAT deduction of documents at the turn of the year
Let’s start with the rules regarding VAT deduction for invoices at the turn of the year.
As highlighted above, Article 6 of Presidential Decree 633/1972 is the regulatory reference to consider.
The moment from which theVAT becomes payable is identified by the date of:
- delivery or shipment for the sale of goods;
- payment or issuing of the invoice for the provision of services.
According to the provisions of the following article 23, the VAT deduction is recognized prior entry in the register of purchases of invoices and customs bills relating to goods and services purchased or imported in the exercise of business, art and profession, including those issued pursuant to the second paragraph of article 17, prior to periodic settlement in which the right to deduct the relevant tax is exercised and in any case within the deadline for submitting the annual return relating to the year of receipt of the invoice and with reference to the same year.
Therefore, for the purposes of VAT deduction of invoices at the turn of the year, the following rules are outlined:
| Invoice date | Receipt date | Registration date | Time when VAT can be deducted |
|---|---|---|---|
| December 2025 | December 2025 | December 2025 | Liquidation December 2024 |
| December 2025 | December 2025 | January 2026 | Inside the 2026 VAT return after making a note in the appropriate section of the purchase register |
| December 2025 | January 2026 | January 2026 | VAT settlement January 2026 |
| December 2025 | January 2026 | After April 30, 2026 | Inside the 2026 VAT return upon presentation of the supplementary declaration |
VAT deduction in invoices at the turn of the year: what the enabling law on tax reform provides
On the right to VAT deduction for invoices at the turn of the year significant innovations are foreseen in the enabling law n. 111/2023 regarding tax reform.
In particular, article 7 containing “Principles and guiding criteria for the revision of value added tax” provides that, for goods and services purchased or imported and for which VAT becomes payable in the year preceding that of receipt of the invoice, the right to deduction can be exercised at the latest with the declaration of the year in which the invoice is received.
We are therefore moving towards overcoming the provisions of Presidential Decree no. 100/1998, which links the right to VAT deduction not to the year in which the tax became payable but to the year in which the invoice is received.
As indicated in the explanatory report of the text of the tax delegation, taxpayers will be able to deduct the VAT indicated on the relevant purchase invoices to operations carried out in the previous year or in the period in which the relevant tax became due or in which the invoice is received.
Although the tax reform provides for a directive criterion to align the deduction with the collectability (regardless of receipt), this rule is not yet operational. Therefore, even for the transition to the 2025-2026 year, the traditional rules based on the date of receipt of the document via SDI remain valid.
VAT deduction with unchanged rules therefore, for 2025 invoices received in 2026.
2025 invoices received in 2026: the rules for deducting the cost
As for the deduction of the cost for invoices at the turn of the yearit is necessary to distinguish between VAT numbers in simplified accounting or in ordinary accounting.
In the case of VAT holders under ordinary accounting regime, the cost of the invoice dated December 2025 but received in January 2026 will be deductible on an accrual basis i.e. in 2025.
Accordingly, the invoice will have to be registered with the asset account “invoices to be received“, while the cost will be charged in 2025 through an accounting transfer as of 12/31. Obviously it is also possible that there is the exception for which the 2025 invoice has an object relating to 2026, but it is a fairly rare case.
In the case of VAT holders under the regime simplified accountinghowever, the cost of the invoice dated December 2025 but received in January 2026 will be deductible in 2026as the criterion of competence does not apply to this category of subjects.
Related News :