Complete guide to the commercial bill (3/3)

For each type of tax, is defined as "taxable income" the amount used to determine the amount of the tax. In VAT, an indication of the tax base is an element of vital importance within the minimum content of the bill, and is usually made from the selling price of the goods or honorarium for the service offered.

However, a transaction is taxable even when there is a contingent fee, for example, when an asset is used for internal consumption of the entrepreneur's personal or family, or when it is sold to third parties free of charge. The presence of the three requirements of VAT (subjective, objective and geographical) means that the operation is still being billed and subject to value added tax.

In this case, the tax base is given by the so-called "normal value" of the good or service: this is the value that can be attributed commonly to that good or service in the state and in the condition in which it is offered to the transferee, the basis of prices routinely practiced by the seller or obtained from the lists of the competent Chamber of Commerce, or, again, obtainable by other transactions carried out by third parties and similar to ours.

Ultimately, it is the value attributable to the transaction were accomplished when the market place between free parts and aware.

For some very special cases (for example, granting access to employees of a company car), it is the law to draw up rules for the determination of the tax base, using some methods of calculation rather complex.

It may happen also that the transaction is exempt or non-taxable, according to the criteria already defined. In this case, you must specify when the tax base or part of it falls into one of these hypotheses, indicating also the law that establishes the exemption or tax exemption. A similar bill when comparissero amounts excluded from VAT.

If the operation performed is taxable for VAT purposes (and therefore is not "exempt" or "non-taxable"), the next step consists in setting the rate applied. The standard VAT rate is 20% for certain types of goods or services, however, are reduced percentages established for socio-political: 10% and 4%.

Then this would include the tax on the supply, determined by a simple multiplication between the tax base and the tax rate. If, as sometimes happens, with the same document are billed different transactions subject to separate portions, it is necessary to separate both components of the taxable amount and related taxes, which are then summed in the queue.

The sum of the tax base and the tax is another essential element: the total of the invoice.

 

It does not necessarily coincide with the sum payable by the transferee to the transferor, as they are sometimes granted rounding and allowances (amounts excluded from VAT) or because the transferee must apply the withholding tax on compensation.

This data, which is not the value added tax, need not appear in the bill, but for the sake of clarity it is better specified.

If the transferor adheres to the subsidized regime for new production initiatives and wants to avail the benefit of not being subject considered, it must be expressly stated in the invoice that his compensation "is not subject to withholding pursuant to art. 13 L. 388/2000 "or other similar wording.

But when he is subject to the special regime for minimum taxpayers - the famous "forfettone" - its operations are always exempt from VAT (but not considered). Invoices presented thus will not appear neither the rate nor the tax, but must be specifically labeled "Operation excluded from VAT for withholding tax pursuant to art. 1 cc. 96-117, Law 244/2007 ", or other similar written.

We list now some scattered information on the invoice that it is good to know anyway.

If the transferor is a corporation, indicate the registration number in the Register of Commerce and the Chamber of Commerce correspondent. If it's corporations must also specify the share of capital actually paid.

If it is a company subject to the control of another, it should be noted that situation while also providing the personal data of the parent.

If the transaction is documented by a transport document, the invoice may be deferred until the 15th day of the following month.

In case of errors in billing, to be issued as soon as possible a note of variation (credit note or debit note, depending on how this change will affect the VAT status of the transferor). The variation note is a document whose content is minimal in all respects the same as that of the invoice. The number system can be distinguished or may fall into the normal numbering of invoices.

You can choose to issue a Notice of variation whose purpose is to change the amounts of the wrong invoice, to ensure that their sum leads to the right values.

But for reasons of clarity, it is usually preferable that the variation note is equal and opposite to the wrong invoice, to cancel it completely, and then issue a new invoice with the correct values.

It remains to recall, finally, that the bill can be written in a foreign language, provided it is secured translation if so requested by the tax authorities, and that the amounts may also be indicated in foreign currency, provided that the tax is expressed in EUR.

To close our investigation billing, all that remains is to examine the position of those which the law permits exemption from it. They are, in fact, millions entrepreneurs running daily operations relevant for VAT purposes without charge: they are the supermarkets, retailers, hoteliers, taxi drivers, gas station attendants, hairdressers etc..

Draw up an invoice is a laborious task, and these figures, maybe that carry hundreds of transactions every day, it would be too complex invoicing all.

For some of them the law therefore allows not emit anything: just think of the newsagents.

Others, however, may choose to issue receipts or receipts, which are a kind of "simplified invoice";

 

in them is given the same minimum content thoroughly described (on the receipt must, however, some indications appear more like the serial number of the cash register), but neglecting the signs of the tax base and tax rate: is indicated only the total of 'operation, in which the VAT is incorporated and not highlighted.

Also lacking is any reference to the personal data of the transferee: it is for this reason that the bartender never asks us the name before issuing the receipt.

There is talk however waivers granted by law, and not of obligations: a no pizza is forbidden to issue invoices, if you wanted to do.

However, if you request an invoice to the customer, the supplier is obliged to issue it. If the transferee is a holder of a VAT, in particular, he must take by force the bill for purchases related to its activities, or may not deduct the VAT on the transaction.

Moreover, an anonymous ticket or receipt for income tax purposes are also useless because it does not allow us to prove that it was us to buy that good or to have that service.

 

 

30/01/2009

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Translated via software

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Source:

Italian version of ReteIngegneri.it