Understanding VAT: Can a Contract be Considered an Invoice? Recent Updates on Invoicing Guidelines

• The current maintenance of VAT guidelines adds to the topic of invoices
• The VAT law regulates when a business is required to issue invoices and specifies the necessary invoice components
• Any document used by a business to bill for a delivery or service can be considered an invoice, including electronic invoices
• A contract is not considered an invoice under the VAT law if explicitly stated in the contract
• Only one invoice with a separate tax statement can be issued for a transaction to avoid unauthorized tax charges
• Duplicates or copies of invoices must be clearly marked to avoid unauthorized tax charges

Source: pkf.at

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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