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
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