- The Italian Revenue Agency issued Circular No. 5/E on May 16
- The circular addresses the repeal of the VAT exemption for loans or secondment of personnel
- Legislative changes became effective on January 1
- Conditions for subjecting secondment or lending of personnel to VAT are outlined
- VAT applies if payment equals cost reimbursement
- The repeal applies to contracts signed or renewed from January 1
- Special transitional rules are included
- Guidance is provided on the subjective, objective, and territorial scope of VAT
- Clarification is given on exemption eligibility
- Special considerations are noted for reimbursements between co-employers
Source: news.bloombergtax.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.
