http split payment italia com Account Portal Instructions Help Guide

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What is the Italian split payment mechanism?

From 1 July 2017 the Italian Split Payment Mechanism, whereby VAT charged on VAT invoices issued to a public administration is paid directly to the tax offce by the public adminis- tration receiving the invoice, has been extended to other transactions.

What does the EU’s approval of anti VAT split payments regime mean for Italy?

The European Commission has granted approval to Italy to continue the use of anti VAT fraud split payments regime with state organizations. The Commission also allowed Italy to extend the measures to state-owned companies, businesses in the FTSE MIB Index and companies directly controlled by local public bodies.

What are the benefits of the split payment mechanism?

This takes the VAT cash element out of the system and reduces any likelihood of potential VAT fraud. Since 2015, the EC has permitted the split payment mechanism in Italy for supplies to government agencies.

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