In accordance with special rules for the VAT treatment of transactions involving vouchers, there are two types of vouchers:
• Single purpose vouchers (SPVs) – SPVs are vouchers where the place of supply and VAT treatment of the underlying supply of goods or services is known at the time the voucher is issued or transferred. Supplies of SPVs are subject to VAT upon the issue and each transfer of the vouchers. The actual supply of the goods and services in return for the SPV is not subject to VAT.
• Multipurpose vouchers (MPVs) – MPVs are any vouchers that
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