Italian Tax Administration argued that travel agents are entitled to issue credit notes in case of cancellation of the educational trips due to COVID-19 pandemic.
In this case, they have to return the money or emit a voucher.
If a voucher is issued, its nature has to be determined.
Based on the elements depicted in the letter ruling request, they had to be considered multi-purpose vouchers for VAT purposes.
As a consequence, Italian Tax Administration highlighted that travel agents had to re-issue the invoices at the time of use of the voucher.
Italian Tax Administration – Letter ruling No. 10 of the 5 July 2021 (in Italian)
Gianni & Origoni
Latest Posts in "Italy"
- Companies Must Opt for VAT Group by September 30 for 2026 Implementation
- Italian Tax Authorities Clarify VAT Deduction on Imports by Non-Owners for Cross-Border Businesses
- Italian Tax Agency Clarifies VAT Adjustment Notes During Preventive Agreement Proceedings
- Italian Tax Agency Confirms Exclusion of Asset Sales from VAT Deduction Pro Rata Calculation
- Italy’s e-Invoicing System Offers Key Lessons
