IPT credit reclaim in Italy? The first and most important requirement

Any taxpayer wanting to reclaim an Insurance Premium Tax (and any other tax payment, in broader terms) refund in Italy must adhere to the provision of article 30 IPT Law 1216/1961, whereby the action can no longer be tabled after three years from the payment date of the amount being reclaimed.

Nonetheless, the Tax Authorities have consistently conceded that the 3-year window shall be calculated from the (potential) moment when the paid amount was offset against a following payment.

For example, an IPT amount of €150,000 paid on 16/11/2021, entirely used to offset the (pre)payment due by 16/11/2022, can still be reclaimed at the moment of writing this article.

Please contact us for a free consultation on a specific scenario.