Global

Details

  • Service: Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 12/12/2012

EU - Changes to VAT invoicing rules, effective 2013 

December 12: The rules throughout the European Union on value added tax (VAT) invoicing will change effective 1 January 2013.

With these changes, almost identical VAT invoicing requirements will apply throughout the EU.


In some EU Member States, the mandatory content of the invoice may change very little. For example, the VAT invoicing rules as used in the Netherlands will change only marginally.


Businesses with international transactions—whether or not they are small-scale or incidental—must take into account that, in the future, invoices may sometimes have to include a referral to a specific rule. If required to invoice foreign VAT for a supply, the referral must be in the language of the country involved.


Furthermore, a simplified invoice may sometimes suffice, and the rules for electronic invoicing have been adjusted.


Other changes include:


  • The term within which an invoice must be sent
  • The conditions for periodical invoices
  • The requirements for invoices prepared

Read 2012 reports prepared by the KPMG member firm in the Netherlands:






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The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


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For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

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