The plans call for the test period to start on 1 April 2017, but some media outlets already suggest the launch will be on 1 January. Regardless of the technical details of the data supply, one thing is certain: in the future, the tax authority will be fully aware of all details of our invoices even without an audit, since all data will by default be sent to their system, where every error of form or content will come to the surface immediately. The preparation, therefore, should not be started with the technical implementation of the data supply, but by checking the conformity of the invoices.
Are you certain that your invoices will pass every test? That in the given situation you always issue the right type of document? That the dates of performance, the exchange rates used, the corrections in the invoice have all been applied in accordance with the requirements?
If you are uncertain in connection with any of the above questions, our colleagues can help in identifying and eliminating the possible errors and risks.
To whom do we recommend our service?
- To those who are not convinced that they issue the correct type of supporting documents in all cases
- To those who are not sure that supporting documents comply with the statutory requirements in terms of content or form;
- To those who invoice in foreign currencies, settle accounts periodically, provide subsequent discounts, etc.;
- To those who have an obligation to indicate any information by reason of taxes other than VAT (e.g. environmental product fee);
- And to everyone who would like to receive a quick and efficient review of their invoicing processes.
How can we help?
1. Personal consultations
Two of our advisers will meet you or the employee of your Company responsible for invoicing. During the meeting, we will review:
- the typical transactions of your Company;
- when and in what circumstances corrections of invoices occur, and what supporting documents are issued for these corrections;
- the performance dates shown on the invoices, as well as the obligations to include data in connection with any other tax types (e.g. environmental product fee);
- the handling of invoices issued in foreign currencies; and
- any other questions that may arise.
2. A random check of the supporting documents
We will randomly choose invoices and other documents related to each transaction type, and examine them from the point of view of content and form to check their compliance with the statutory requirements.
3. Written summary
We will prepare a short written summary of the findings of our review, and make a recommendation for the elimination of any deficiencies identified.
The review of the invoices offers a good opportunity also if you are uncertain about the interpretation of the contracts in the background of those invoices, or you find it necessary to draw up the contracts in writing after the fact, or where issuing the invoice corresponding to the invoice due to the specialised nature of the transaction (e.g. the sale of a business line), in which case our lawyer colleagues can help you with the clarification of these issues.
If you have any questions related to real-time supply of data, please contact our colleagues directly or through your Mazars tax advisor.
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