| Requirements for VAT Invoices |
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All EU Member States are required to implement changes to VAT invoicing with effect from 1 January 2004. In Ireland, the Revenue Commissioners recently published regulations detailing these changes.
While the majority of businesses already issue VAT invoices which comply with the new regulations, we would advise that you review your invoicing procedures to ensure all of the mandatory information is contained on VAT invoices issued from 1 January 2004.
All VAT invoices issued on or after 1 January 2004 must contain the following information:
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 | The date of issue of the invoice; |
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| A sequential number, which uniquely identifies the invoice; |
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| The name, address and VAT registration number of the supplier; |
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| The name and address of the person to whom the goods or services have been supplied; |
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| If the customer is located in another EU Member State and is obliged to account for the VAT on the reverse charge basis, the VAT number of the customer and a narrative that the reverse charge basis applies; |
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| In the case of an intra Community supply of goods, the customer’s VAT number and a narrative that it relates to an intra Community supply of goods; |
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| If the customer is located in another EU Member State and is obliged to account for the VAT on the reverse charge basis, the VAT number of the customer and a narrative that the reverse charge basis applies; |
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| The quantity and nature of the goods or the extent and nature of the services rendered; |
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| The date on which the goods or services were supplied or, where a payment on account was made in advance of supply, the date of the payment; |
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| The unit price exclusive of VAT; |
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| Any discounts or price reductions not included in the unit price; |
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| Where more than one VAT rate applies, the VAT exclusive consideration liable to VAT at each rate and the rate of VAT chargeable; |
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| The amount of VAT payable expressed in euro. The requirement to specify the VAT payable does not apply in the following cases: |
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(i) reverse charge supplies
(ii) goods supplied under a margin scheme
(iii) goods supplied under the special scheme for auctioneers, or
(iv) means of transport supplied under the special scheme for dealers
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| Where a tax representative is liable to pay the VAT in another EU Member State, the full name, address and the VAT identification number of the representative; |
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| Where goods are supplied under the margin scheme or under the auction scheme, an appropriate narrative on the face of the invoice; |
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| Similar information is required where a settlement voucher or a credit note is issued. |
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The Revenue Commissioners have issued an information note on the changes to VAT invoicing. In the note, they state that, if the supply of a particular service cannot be readily broken down into countable elements, the VAT exclusive price for the specific service will be accepted as the unit price. The Revenue issued a statement of practice on the changes in January 2006.
This memorandum is intended for general guidance only. It is not intended to be a full guide to every aspect of the new rules for VAT invoicing. While every care and attention has been taken to ensure the accuracy of the information in this memorandum, specific professional advice should be taken.
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| © January 2004 |
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