BASQUE COUNTRY AND NAVARRE: How can I recover a customer's VAT in bankruptcy?

What requirements must be met?

• That there is an operation that maintains its effects.
• That the recipient of the operation has not made the payment of their debt effective.
• That, after the accrual of the tax corresponding to the operation, a bankruptcy order has been issued.

If I meet the requirements, what do I have to do to recover the VAT?

• Once the bankruptcy order of the customer has been published in the Official State Gazette, you have a period of 3 months to issue a corrective invoice canceling the charged VAT. And you must send it to the debtor, who will then owe you only the principal of the operation. Note that, once the specified period has elapsed, the adjustment of the taxable base through this method is not possible.
• You must notify the modification to the Tax Office within one month from the issuance of the corrective invoice.

And remember...

The correction is only made for the purpose of recovering the VAT, and does not imply a waiver of continuing to claim the principal amount.

If your company has a debtor in bankruptcy, we will advise you on how to directly recover the uncollected VAT from the Tax Office.