The aim of the new reporting system is to provide the necessary information to tax administrations while minimising the administrative burden for taxable persons. In order to achieve the latter objective, the reporting system will take advantage of the issuance of an electronic invoice to automate the process of reporting. However, for this to be possible, it is necessary to include in the invoice all the information required by the tax administrations for the reporting obligation.
This is the reason why Article 226 has been changed to ensure the inclusion in the invoice of all the data that needs to be reported.
The data elements added to the content of the invoice are
- the identifier of the bank account in which the payment for the invoice will be credited,
- the agreed dates and amount of each payment related to a concrete transaction, and,
- in the case of an invoice that amends the initial invoice, the identification of that initial invoice.
Changes to article 226:
- Article 226, point 7a is replaced by the following:
(7a)where the VAT becomes chargeable at the time when the payment is received in accordance with Article 66(1), point (b), and the right of deduction arises at the time the deductible tax becomes chargeable, the mention ‘Cash accounting’;
- Article 226, the following points (16), (17) and (18) are added:
(16)in the case of a corrective invoice, the sequential number which identifies the corrected invoice, as referred to in point (2);
(17)the IBAN number of the supplier’s bank account to which the payment for the invoice will be credited. If the IBAN number is not available, any other identifier which unambiguously identifies the bank account to which the invoice will be credited;
(18)The date on which the payment of the supply of goods or services is due or, where partial payments are agreed, the date and amount of each payment.’;
See also
- ViDA Analyzed – Part 1: E-invoicing will be the general rule for the issuance of invoices – Legal basis
- ViDA Analyzed – Part 2: 2 days deadline for the issuance of invoices on intra-Community supplies
- ViDA Analyzed – Part 3: Elimination of the possibility to issue summary invoices
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