VAT Receivables

Central Commercial Factoring Department

business@bancasistema.it

800 691 629
Freephone number
Available Monday to Friday
from 8.30AM to 6.00PM

Product Details

Offices

Milan
Largo Augusto 1/A, ang. via Verziere 13
20122 Milan - IT
Naples
Via Verdi, 35
80133 Naples - IT
Palermo
Palazzo Branciforte - Via Bara All'Olivella, 2
90133 Palermo - IT
Pisa
Galleria Chiti, 1
56125 Pisa - IT
Rome
Via Romagna, 25
00187 Rome - IT

Allows you to manage tax receivables through non-recourse and recourse factoring services.

The assignment of VAT receivables from quarterly and/or annual returns is formalised through a notarial deed and notified to the Revenue Office concerned.

In order to collect the receivable from the Revenue Office before the assessment period (usually five years), it is often necessary to have a bank and/or insurance guarantee for the company in favour of the Revenue Office concerned.

The guarantee must be issued at the direction and expense of the assignor company.

Objective

Enabling solvent companies and companies in bankruptcy proceedings or in voluntary liquidation to assign tax receivables through non-recourse and recourse factoring services.

Type of Receivables

Operators that have accrued a VAT receivable during the quarter or year (e.g. due to split payments, investments, rate differences, etc.). Companies that have requested the refund of IRES (Corporate Income Tax) receivables.

Price

Non-recourse factoring: discount calculated on market rates, based on estimated collection times, plus a servicing fee.

Recourse factoring: application of market rates, with a spread on the Euribor for the period, plus a servicing fee.

Documents for preliminary analysis

  • VAT return with receipt of submission

Documents for the approval

  • Certificate of Good Standing, Deed of Incorporation and Articles of Association
  • Last two financial statements
  • List of bank credit lines
  • Documentation certifying tax compliance