- The Agenzia delle Entrate clarified that permuta (exchange) is relevant for VAT purposes when a subject exchanges goods or services with another subject.
- Permuta occurs when a subject offsets the monetary consideration owed to them by another subject against the sale of goods or provision of services.
- If the exchange occurs between two VAT-registered subjects, both transactions are subject to VAT.
- If one of the parties is a private individual, only the transaction carried out by the VAT-registered subject is subject to VAT, while the private individual may be subject to other taxes.
Source: ipsoa.it
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.
