- The list of subjects obliged to receive electronic invoices in split payment for 2024 is available.
- It is important to always check these lists in case of doubt due to the significant penalty.
- Split payment is a mechanism where the VAT charged by the seller or provider must be paid directly to the tax authorities by the buyer or client.
- The mechanism applies to operations with Public Administrations and certain entities, foundations, and companies.
- The lists for subjects subject to split payment in 2024 have been published on the Department of Finance’s website.
- It is necessary for the seller or provider to verify if the buyer or client is included in the lists before issuing each invoice.
- The indication “S” in the “VAT Liability” field of the electronic invoice distinguishes it as subject to split payment.
- Failure to annotate the split payment procedure on the invoice can result in a penalty.
- In case of errors, a variation note and a corrected document are required according to the circular 27/2017 of the Revenue Agency.
Source: commercialistatelematico.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
