- The Italian Revenue Agency issued a letter clarifying VAT rules for services by a nonresident company and its intermediaries
- A Reserved Italian Alternative Investment Fund involved in third party litigation funding contracted with BETA, a foreign company
- BETA provided services including identifying injured parties, collecting damage information, and managing fund distribution
- BETA also employed other foreign intermediaries for these tasks
- The taxpayer requested clarification on VAT obligations for services from BETA and the intermediaries
- The Agency ruled that BETA’s management services to the taxpayer are VAT exempt
- The taxpayer has no VAT obligations towards the intermediaries as they are employed by a nonresident company
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.
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