Possible changes in the Italian TOMS
Following a question by an Italian taxpayer on the VAT treatment of conference services, the Italian authorities considered these services as subject to the Tour Operator Margin Scheme (TOMS).
Possible changes in the Italian TOMS
This reply from the authorities does not represent the official position of the Italian tax authorities, however, it must be taken into account for any future determination of VAT treatment on these type of services in Italy.
The Tour Operator Margin Scheme simplifies the way VAT is accounted by businesses that buy-in and resell hotel, accommodation and other travel services in their own name. Businesses using TOMS do not recover VAT on their purchases and only account for VAT on the margin between the cost and the sale price.
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