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accounting & taxation - taxation
Taxation

The services supplied by GME S.p.A. shall mean supplies of services and the chargeability of VAT on the related fees shall depend on the place where the customer has established his/her/its business, as per Article 7ter of Italian Presidential Decree of 26 October, 1972 no. 633, which implements Article 44 of Directive no. 2006/112/EC and subsequent amendments and additions.
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.
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.
Operators established in Italy for which, pursuant to art. 17-ter of Italian Presidential Decree no. 633/1972, the VAT settlement system called "split payment” is applied, are required to submit to GME a specific self-declaration certifying their status in this regard.


 
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, D.P.R. 633/72

• V8: supply not subject to VAT as per art. 7ter, D.P.R. 633/72 – art. 44, Directive 2006/112/EC – EU reverse charge

• VC = supply not subject to VAT art. 7ter of Italian Presidential Decree 633/72 – art. 44 Dir. 2006/112/EC - non-EU reverse charge

• VE = supply to PA subject to VAT at the standard rate - Split of payments

• VX = supply to non-PA subject to VAT at the standard rate - Split of payments
 
accounting & taxation - invoicing
www.mercatoelettrico.org

GME shall issue to each Operator, for the first twelve months, the invoice relating to the annual fixed fee by the third working day of the month following the date of the admission decision and thereafter every twelve months.

GME shall issue an invoice relating to the access fee to each Operator within the fifth working day following the date of the admission decision.

The invoices between GME and the Operators are exchanged by making them available on the "SetService" electronic platform and, where the conditions provided by the legislation in force from time to time on electronic invoicing and the related implementing provisions are applicable, the invoices will be transmitted by GME through the Sistema di Interscambio (SDI).

 
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