- Italian Revenue Agency issued Letter No. 43 2025 on February 20 2025
- Letter clarifies application of reduced 10 percent VAT rate for instrumental concerts
- Taxpayer, a foundation, organized a virtual reality event with a deceased composer’s musical performance
- Event used virtual reality headsets and synchronized physical, artistic, lighting, and musical elements
- Taxpayer sought clarification on whether the event qualified as an instrumental concert
- Tax Agency clarified that the event wouldn’t qualify as an instrumental concert because it used pre-recorded music
- Standard VAT rate would apply due to the absence of a live musical performance
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
