The lists identifying the companies, entities and foundations, to which the split payment mechanism will apply for the year 2023 , have been published on the website of the Department of Finance This mechanism provides that the VAT charged by the transferor or provider in the invoices must be paid by the transferee or client directly to the tax authorities, rather than to the supplier, separating the payment of the consideration from that of the related tax (Circ. Agenzia delle Entrate n. 1/ 2015). In the electronic invoice, the application of the split payment is indicated by reporting the value “S” (splitting of payments) in the “Exigibility VAT” field
Source: eutekne.info
