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Complex Transactions – Revenue Agency Opinion

Italian Revenue Agency released an opinion on the correct qualification for Italian VAT purposes of the supply of maintenance services on helicopters in case the consideration is charged through the mechanism of invoicing flight hours at the hourly rate (so called “PBH” contracts). (see opinion n. 4 of 23 February 2022). This type of contract is frequently used in the industry, but the VAT treatment is not always certain.

Source Bird & Bird

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