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Virtual wallet and vouchers

The transfer of money to a virtual wallet is out of scope for VAT purposes.

If the money transferred may be used to purchase goods taxed at different VAT rates, virtual wallet can be regarded as a multi-purpose vouchers.

Source: Italian Tax Administration – Letter ruling No. 523 of the 29 July 2021 (in Italian)

Fausto Capello
Gianni & Origoni

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