We inform that the transitional period of application, for VAT taxable persons resident/established in Italy, of the VAT payment system called "split payment" introduced by Law 190/2014 (so-called 2015 Stability Law) will end on 30th June 2026.
In this regard, paragraph 1-ter of art. 17-ter of Presidential Decree no. 633 of 1972 (so-called VAT Presidential Decree) provides that the "split payment" regulation shall apply "until the final date of the special derogation measure issued by the Council of the European Union pursuant to article 395 of Directive 2006/112/EC" (EU Council Implementing Decision 2020/1105), i.e. until 30th June 2026.
Therefore, unless otherwise indicated by the competent institutions, the "split payment" will cease to apply:
- for the supply of goods and services carried out by participants to GME, for which the latter is not liable for the payment of the tax, which will be invoiced to GME from 1st July 2026;
- for the supply of goods and services carried out by GME to Italian participants, for which they are not liable for the payment of the tax, which will be invoiced by GME from 1st July 2026.
Please be also informed that this regulatory adjustment, where applicable, will also be taken into account to calculate the exposure within the GME guarantee system for all transactions carried out earlier than 1st July 2026 but which will be financially settled from that date onwards.
Specifically, taking into account the taxation scheme applicable on the settlement date, reference shall be made to the calculation of the exposure starting:
- from 1st May 2026 in relation to the MPEG, the MTE and the PCE;
- from 21st June 2026 in relation to the MGS and MPL and any XBID schedule imbalances;
- from 22nd June 2026 in relation to the MGP/MI and any schedule imbalances, the MGP-GAS, the MI-GAS and the MT-GAS.