Did you know that ...
the
German value added tax (VAT) law requires special details for your invoices
concerning transactions in Germany:
1. completed name and address
of the supplier and the customer,
2.
suppliers official tax
registration number or VAT identification number from the tax inspection,
3. date of issue,
4. a consecutive number with one or more number sequences, for the
definite identification of the invoice
5. quantity and customary trade
designation of the delivered goods
or services rendered
6. date of delivery or services rendered or collection of payment if
this date is fixed and not identical with the date of issue,
7. distribution of the payment to different tax rates and / or different tax exemptions for the
delivered goods and services rendered and every agreed deduction of the payment
in advance if not posted in the payment,
8. the
legal tax rate and the calculated VAT amount or in the case of VAT exemption an indication that the delivery or service
is tax exempt.
General
Information:
The VAT law requires all details even you perform only tax exempt
deliveries or services..
Only in one document you have to
record the tax base and the VAT amount. It is admissible that all other
specifications are recorded in other documents. In this case the law asks for
an extra indication on the invoice.
In the
case of long term contracts (i.e. for maintanances or lease contracts) it is
possible that all details are recorded in the basic contract. The counterfoils
have to show the period of the service.
If you intend to cash in the input tax it is the stipulation that all
mentioned details are recorded in the original invoice you received from the supplier.
If you write out a credit item you have to specify the credit item as mentioned.
In this case the law requires the specification of your and your customers tax
identification number. The issuer of the credit item has to fulfill all
required documents with the necessary details.
Transition period
The law requires from January 1, 2004 all listed elements on the
invoice.
If you want to claim the input tax, it is necessary on all invoices you
receice after June 30, 2004, that the date of issue, consecutive number and
legal tax factor or an indication of tax exemption are mentioned.
You don´t have a claim against the tax authority withour these specifications.
Obligation to preserve
business invoices:
All
invoices, you
·
filed
(output invoices) a n d
·
received (input invoices)
you
have to preserve the original / copy for 10 years, begining with the yearend of
issue.
Ask
you tax consultant for more information.