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INFOFLASH TAX N. 1 NOVEMBER 2021

by LDP | Nov 2, 2021 | infoflash

Lists of companies applying split payment mechanism for the year 2022 – Publication by the MEF

 

The section of the website of the Finance Department of the MEF contains the lists of companies, entities and foundations to which, for the year 2022, the split payment mechanism (article 17-ter, paragraph 1-bis, of Presidential Decree no. 633/1972) will be applied.

In particular, the split payment mechanism applies to transactions carried out with respect to:

The above mentioned lists concern:

  • De facto subsidiaries of the Prime Minister’s Office and Ministries (art. 2359, paragraph 1 no. 2, Civil Code);
  • Institutions or companies controlled by the central government;
  • Institutions or companies controlled by local governments;
  • Institutions or companies controlled by national social security and welfare institutions;
  • Institutions, foundations or companies in which the Public Administration holds an interest of at least 70% of the share capital;
  • Listed companies included in the FTSE MIB index of the Italian Stock Exchange.

At the moment, the lists for the year 2022 are updated to October 20, 2021 (in accordance with art. 5-ter paragraph 2 of Ministerial Decree of January 23, 2015, which requires their publication by October 20 of each year, with effects for the following year).

It should also be noted that these lists have constitutive effect: this means that, in order to protect the legitimate expectations of the parties concerned, the split payment discipline must be applied from the date of actual inclusion of the party in the list and publication of the same on the website of the Department of Finance. In this regard, in the lists, each party is identified by tax code, name and, in detail, by date of inclusion.

 

In the presence of a client who is a potential recipient of the split payment, therefore, it is necessary for the supplier to verify, before issuing each invoice, the inclusion of each client in the aforementioned lists.

On a practical level, when issuing the electronic invoice the application of split payment is indicated by entering the value “S” (split payment) in the “VAT payable” field.

 

It is possible to report errors in the lists

With the exception of companies listed in the FTSE MIB index, subjects included in the lists may report any missing or incorrect inclusions to the Department of Finance, which will update them if necessary. Requests for inclusion in and exclusion from the lists must be sent using only the appropriate form, providing suitable documentation and compulsorily attaching a Chamber of Commerce certificate.

 

LDP remains at your full disposal for further clarification.

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