VAT - value added tax - is a tax that applies, such as naming, the added value created in the manufacture and supply of goods and services.
In Italy the rate is the percentage (defined by law) of the taxable value of an asset, through which it calculates the amount of VAT due. For example: if a well costs
€ 100 and the VAT rate is 20%, the tax payable will be € 20, for which the asset will cost € 120.
In Italy, the VAT is governed by Presidential Decree n. 633 of 1972 and the VAT rate currently is at 22%.