Todays FMOC Invoice included the Incorrect VAT rate for ROI participants
Please be advised that the FMOC Invoice for September 2021, issued today, had an incorrect VAT rate applied for ROI participants. The invoice has been issued with a VAT rate of 21% instead of the correct VAT rate of 23%.
The outcome, of a materiality assessment completed by SEMO, is that there will be no adjustment made to todays FMOC Invoice for September 2021 carried out due to the low level of materiality of the issue. Please also note that there is no resettlement for FMOC.
This issue will have no impact on the payments in (19/10/2021) and payments out (20/10/2021) dates.
SEMO would like to apologise for any inconvenience caused.
If you have any queries please contact SEMO in the usual way at email@example.com.