- The Italian Revenue Agency clarified that VAT on prepaid fuel cards is applicable at the time of fuel purchase, not at the time of card recharge. Prepaid fuel cards are considered “multi-use” vouchers, meaning VAT is due only when the card is used to buy fuel, as the exact amount of fuel and its price are not known at the time of recharge. This clarification overrides previous guidance and affects invoicing practices. If invoices were mistakenly issued at recharge, they can be corrected with credit notes, unless the deadline has passed, in which case a refund process is available.
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.
Latest Posts in "Italy"
- Italian Tax Agency Communication on VAT Declaration Discrepancies for 2023 Tax Period
- Local Entity Reimbursements for Employee Electoral Leave Not Subject to VAT
- Italian Tax Agency to Share VAT Anomaly Data with Taxpayers and Finance Police
- Italy moves toward digital tax receipts
- Italian Tax Authorities Remove Non-EU Companies from VIES for Failing New VAT Guarantee Requirements
