News


21 Aug 2020
“Certificates of Release for Consumption of biofuels (CIC)” VAT scheme

We inform you that the following sections of the GME’s website pages on the Market for Certificates of Release to Consumption of Biofuels (MCIC) have been updated:

  • "How to operate";
  • "Accounting and taxation - taxation";

In particular, we would like to point out that VAT on transactions with counterparties established in Italy must be paid by applying:

  1. the so-called reverse charge mechanism, pursuant to Article 17, paragraph 6, letter d-ter) of the Decree of the President of the Italian Republic No. 633/72, if the transaction is referred to CICs issued for biomethane;
  2. the ordinary VAT rate, if the transaction is referred to CICs issued for biofuels other than biomethane;

With reference to the "CIC biofuels" type - i.e. certificates issued for the release to consumption of biofuels, including biomethane, produced from raw materials not listed in Part A of Annex 1, Part 2-bis of Italian Legislative Decree 3 March 2011 no. 28 – if they have been granted after the production of biomethane, the Italian MCIC Participant is required to notify it via PEC to the GME’s address gme@pec.mercatoelettrico.org within the third working day prior to the relevant market session, by means of an appropriate declaration, duly filled in and signed by a person with the necessary powers of signature, for the purposes of paying VAT through the so-called reverse charge mechanism, pursuant to Article 17, paragraph 6, letter d-ter) of the Decree of the President of the Italian Republic no. 633/72. Following the closing of the relevant session and by 3:00 pm on the day of the session itself, a communication signed by a person with the necessary powers of signature containing the ID of any transactions concluded with reference to such certificates and the number of these certificates that have been exchanged must also be sent to the GME via PEC to the address gme@pec.mercatoelettrico.org.

Should this last communication following the closing of the session not reach the GME in accordance with the above mentioned terms and conditions, the ordinary VAT Scheme shall apply to any trading of this type of certificates.

For any questions, please contact the following telephone numbers and email addresses:



Gestore dei Mercati Energetici S.p.A.
Sole Shareholder: Gestore dei Servizi Energetici - GSE S.p.A., as per art. 5, Legislative Decree 79/99
Company subject to the management and coordination of Gestore dei Servizi Energetici – GSE S.p.A.
Share Capital: € 7,500,000.00 fully paid up
Registered Office - Viale Maresciallo Pilsudski, 122/124, 00197 Rome tel.no. +39-06-80121, fax no. +39-06-80124524, email: info@mercatoelettrico.org
Rome Companies' Register, VAT and Taxpayer's Code: 06208031002 Rome Economic and Administrative Index: 953866