A VAT invoice needs to meet the invoice requirements set by the VAT legislation. As per January 1, 2013 we have new requirements added.
An entrepreneur has to make sure the invoice meets in time to the new requirements.
It is very important you will provide a correct invoice to your clients as well you will receive a correct invoice from you (service) providers. If the invoice you paid does not meet the invoice requirements, you cannot reclaim the paid VAT. Please pay attention: if you provide an incorrect invoice to your clients, from January 1, 2013, you can get a fine up to € 4,920,- per incorrect invoice.
Below we will explain to you the requirements an invoice you paid need to have in order to be able to reclaim the VAT
What should be in the invoice?
The demands on your invoice are depending on the height of your invoice.
An invoice up to € 100,-:
• Date of invoice;
• Name and address of the supplier;
• Mention of the supplied goods or rendered services;
• Payable VAT-amount (or information so your customer can calculate the VAT-amount).
An invoice over € 100,-:
• Date of invoice;
• A unique invoice number (number your invoices continuous and sequential);
• Your VAT-number;
• Your Chamber of Commerce-number;
• Name and address of your company;
• Name and address of your customer;
• A description, the quantity and the nature of the product or service you have provided;
• Date of supply or service has taken place or is complete, or date of payment is done when it is different from the invoice date;
• Price VAT excluding and VAT including;
• Payable VAT-amount.
Soon we will publish an update about the new invoice requirements for the VAT in which we inform you about the requirements set to an invoice you issue to the client. Especially with respect to the 0% VAT rate in EU transactions.
