ACCOUNTING & TAXATION
INVOICING
GME issues an invoice to each participant for the yearly fixed OMPR PDR fee and for the records-based fee, by the tenth working day following the end of the quarter including the effective date of the PDR contract, and subsequently every twelve months.
The exchange of invoices between GME and participants takes place on the "SetService" digital platform. Invoices will be transmitted by GME to participants through Sistema di Interscambio (SDI), if the legislation in force from time to time on electronic invoicing and its implementing provisions so require.
TAXATION
The fees invoiced by GME for PDR services are qualified as general services and their VAT chargeability depends on the place where the customer has established his/her/its business.
Therefore, GME shall issue an invoice with VAT at the standard rate, if the customer has established his/her/its business in Italy. If the customer declares a status of "esportatore abituale" (exporter on a permanent basis) by submitting a Statement (the so-called "dichiarazione d’intento"), GME shall issue an invoice without VAT.
GME, on the other hand, issues an invoice without VAT when the customer is a taxable EU Participant in its own Country. In this case, it is the Participant that applies the reverse charge.
In case of a non-EU Participant, GME issues an invoice without VAT.
Participants, based in Italy subject to the VAT payment system called "split payment", are required to submit to GME a specific self-certification certifying its status pursuant to Article 47 of the Decree of the President of the Italian Republic n.445 of 28/12/00.
An example of a declaration for the status of Participant subject to split payment can be found here.
The list and description of codes used by GME for invoicing fees are available here.
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