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Update review on tax issues relevant to the Energy and Utilities sector – February 2026
Update review on tax issues relevant to the Energy and Utilities sector – February 2026
Tax and Legal Services
Budget Law 2026 – New Provisions in VAT, Customs and Excise Duties
In this document, we briefly analyze the most significant new provisions introduced regarding VAT, customs, and excise duties.
VAT and interest unduly paid through voluntary disclosure are refundable
Through its recent judgment no. 3346 of February 14, 2026, the Court of Cassation (“Corte di Cassazione”) addressed a matter of significant practical interest concerning the relationship between voluntary disclosure (so called “ravvedimento operoso”) and the right to a refund of amounts paid by the taxpayers.
EU case law clarifies the moment when the right to deduct VAT arises
With the judgement of 11 February in case T‑689/24, I.S.A., the General Court of the European Union again ruled on the determination of the “dies a quo” for exercising the right to deduct VAT.
Excise duty on natural gas – The implementing decree published in the Italian Official Gazette
On January 5, 2026, the Ministerial Decree dated December 29, 2025, was published in the Italian Official Gazette, setting out the “Procedures for the application of the excise duty on natural gas” .
Definitive CBAM phase: exemption from the obligation to hold the qualification of authorized CBAM declarant
The Circular Letter no. 36/2025 lists some cases exemption from the obligation to hold the qualification of authorized CBAM declarant.