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SPLIT PAYMENT

Posted on 12/05/2018 by Clarkson Hyde
Dear Customer,
The 2015 Stability Law confirms important new rules concerning the application of VAT for operations involving public organisations.
In particular, it stipulates that for operations conducted with effect from 1 January 2015, supplies to the Public Administration authorities must be made using the “split payment” system. This means that the purchasing party undertaking the operation must charge VAT in the invoice, whilst payment of tax is to be made by the purchasing or contracting party.
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