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accounting & taxation - taxation - PB-GO

GME's fees

The services supplied by GME SpA shall mean supplies of services and the chargeability of VAT on the related fees shall depend on the place where the customer (PB-GO Participant) has established his/her/its business, as per article 44 of Directive 2006/112/EC.

Therefore, GME shall issue an invoice with VAT at the standard rate, if the customer has established his/her/its business in Italy, and without VAT, if the customer qualifies as "esportatore abituale" (Italian exporter on a permanent basis) under article 8, para. 1 lett c) of the Decree of the President of the Italian Republic No. 633/72.

Conversely, GME shall issue an invoice without VAT to EU customers who/which are taxable persons in their own countries. In this case, the reverse charge shall be applied by the customer.

GME shall issue an invoice without VAT to non-EU customers who/which are taxable persons in their own countries.

GME’s VAT codes
  • V1 = supply subject to VAT at the standard rate
  • V3 = supply to the so-called "esportatori abituali" (Italian exporters on a permanent basis) not subject to VAT as per art. 8, Decree of the President of the Italian Republic (DPR) 633/72
  • VE = supply to PA subject to VAT at the standard rate - Split payment
  • VX = supply to non-PA subject to VAT at the standard rate – Split payment
  • V8 = supply not subject to VAT as per art. 7ter, DPR 633/72 - art. 44, Directive 2006/112/ECEC – EU reverse charge
  • VC: supply not subject to VAT as per art. 7ter, DPR 633/72 - art. 44, Directive 2006/112/EC – non-EU reverse charge
 
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