Global Daily Tax News, Italy Lists Entities Covered By VAT Split Payment Regime, (Oct 27, 2023)

The Italian Department of Finance has released new lists of government and private sector entities covered by Italy's split-payment mechanism.

The mechanism, introduced in 2017, is an anti-tax evasion measure that requires government departments and certain companies to pay the VAT payable under a contract directly to the state, rather than to the supplier.

The list includes government entities and companies listed on the FTSE MIB index. The mechanism will no longer apply to listed entities from July 1, 2025.