Invoice Compliance and Tax Record Keeping Requirements
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Understanding Invoices
An invoice is a document that legally certifies the delivery of goods and services. It serves as a formal request for payment and acts as a receipt.
Invoice Requirements
- Serial number or unique identifier.
- Signature, location, or target data (if the amount exceeds 100 €).
Issuance Timelines
- Standard: Issued within 30 days following the completion of a transaction.
- Grouped: Invoices for the same recipient can be grouped within 30 days after the end of the calendar month.
- Intra-community: Issued before the 16th of the month following the liquidation period.
Rectification and Storage
Rectification: Must be performed immediately, provided it is within 4 years of the VAT accrual, using a special numbering series.
Storage:
- Standard digital records: 4 years from the statutory VAT assessment deadline.
- Capital goods, furniture, and real estate: 9 years.
- Import tax documentation: 14 years, as mandated by the General Tax Act.
Record Books
Issued Invoices
Taxpayers must maintain a record book of issued invoices. Transactions must be recorded within 7 days, with pages numbered consecutively.
Simplified Recording
For transactions involving the same recipient within the same calendar month, summary entries are permitted if they include issue dates, numbers, tax base, tax rate, and total share. These must be recorded before the VAT settlement deadline.
Received Invoices
Invoices and customs documents must be recorded in chronological order. Global entries are permitted for amounts under 500 € (excluding tax), provided the total does not exceed 6,000 €.
Capital Goods
Taxpayers subject to the pro-rata rule must maintain a record book of capital goods and perform adjustments for four years following the operation.
Annual Statement of Operations
All natural and legal persons performing business or professional activities must submit an annual statement of operations for any third party exceeding 3,005.06 € during the calendar year.