Update - Council Implementing Decision Extending Italy's VAT Split-Payment System Published

The Council Implementing Decision authorizing Italy to continue the application of its VAT split-payment system was published in the Official Journal of the European Union on 15 July 2026. As previously reported, the decision was approved without discussion during the Economic and Financial Affairs (ECOFIN) Council meeting on 10 July 2026. Under the split-payment system, supplies of goods and services to specified recipients are subject to VAT at normal rates, but the payment is split, with …