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In ‘il fisco’ no. 24 of 2024, Pierpaolo Maspes and Raffaele Corso analyze the interpretation of the VAT discipline applicable to vouchers, introduced in the national legislation in 2019, in the light of the recent ruling of the European Court of Justice 18 April 2024, Case C-68/23, ‘Finanzamt O’ and observe how such ruling seems to undermine the interpretations hitherto provided on the very concept of voucher and, in particular, on the difference between single-purpose and multi-purpose vouchers and on the configurability as vouchers of instruments hitherto not considered as such (as the pre-paid telephone traffic and meal vouchers). Paraphrasing the R.E.M., it could be said that, for the concept of voucher, as understood by the national interpreter (and also by the legislator), following the interpretation made by the ECJ in said ruling ‘It’s the end of the world as we know it’.

Il Fisco 24 2024