Complete guide to the commercial bill (2/3)

For both the transferor and the transferee, the invoice must be kept for tax purposes until 31 December of the fifth year following the year of the transaction, or the sixth year if the corresponding declaration IVAnon has been made or has been declared invalid.

If in the meantime have started verification activities by the Inland Revenue or the Guardia di Finanza, the invoice must be preserved until the conclusion of such operations, whether they finish later than the dates indicated.

It should be noted, moreover, that for all non-agricultural entrepreneurs and not "small" (as defined in art. 2083 of the Civil Code), invoices and other business records must be kept for ten years for statutory purposes, as their use as evidence in civil and bankruptcy.

If the invoice has been issued in electronic format, it must be preserved by means equally innovative: digital or optical systems that ensure the immutability and legibility over time. Special ministerial decrees technically describe the setup and operation of these digital files or scanned.

If the invoice has been issued in analog format, storage can be freely under normal wallets, or it can be scanned to be converted into electronic invoice shall be maintained accordingly.

The choice between these two solutions, as mentioned, is free. But once you chose the second option, this is a final and irrevocable choice, so that you need to send to the Revenue the so-called "fingerprint" of your records.

The digital archive, in fact, it can cover not only invoices but the entire apparatus accounting firm. Fermi considered the constraints described, however, is allowed to choose freely what types of documents kept in analog format and in electronic format-such as optical.

 

The obligation to issue an invoice, of course, usually falls on the person providing the service or sells the asset to the transaction (the transferor) to the counterparty, the customer or client to turn (the transferee).

However, there are some cases provided by law that the obligation to issue an invoice falls on the transferee: it will be the latter, therefore, to issue two copies of the document, one of which will be in the hands of the transferor. Obviously this is only possible when the transferee is also registered for VAT.

This mechanism is called "reverse charge" (or "reverse-charge"), and is sometimes taken as a measure against tax evasion, other times to simplify the formalities of small retailers.

 

For example, this happens in some cases where a home is sold and the transaction is taxable for VAT purposes (there are some very complex rules for this type of operations, which are omitted for simplicity), or when a small farmer transfers the its products, or in the event of sale of scrap metal.

Because he has given good results, it is likely that the mechanism of "reverse-charge" is intended in future to be extended in other areas.

Beyond the cases where it is required, however, it is always possible that the parties agree that the invoice is issued by the transferee.

 

It is also possible that the supplier entrusts the task of issuing invoices to a third party on its behalf, for example instructing the accountant of confidence or a service company.

When the invoice is issued by the customer or by a third party, however, it is necessary that such information is indicated in the invoice. In the case of the third, of course, also be necessary to indicate the master data of the same.

Once you have determined when and how to issue an invoice, it is to see the "what", ie the content of the bill.

Article 21 of the VAT Act establishes the minimum content: it is a question of the items that must always appear on the invoice. In addition to these data, however, the issuer may enter freely any other item you want: corporate logos, advertising messages, the fax number, the payment schedule etc..

The same freedom also affects the format of the invoice, if paper: it does not matter if you prefer to use pre-printed forms or created by the same issuer, or if we resort to A4 or to less common.

 

In theory, even a piece of paper torn from a book can serve as a substrate of the bill: what counts is repeated, is that there is the minimum content required by Article 21.

Before describing this elusive "minimum content", however, it is worth pointing out that any document containing these elements is "invoice".

Article 21 says explicitly that it defines "parcel", "account", "note", "bill" or in any other way, a document that presents the minimum content is in all respects an invoice, with all legal consequences arising therefrom, without exceptions.

 

In particular, among the professionals there is the practice of issuing the bill only at the time of payment of the consideration (such as the law allows), but, however, precede it with a "notula" or "notice of parcel" if you prefer, for inform the customer of the amount of its debt.

It is good that the professional draw up in the manner as concise as possible, because if instead inserisse the famous "minimum content", then he would issue a true bill, with no opportunity to explain that the real plot is yet to come.

Let us examine the minimum content required for each invoice.

First, it must contain the date of issue and number. Each invoice, in fact, must be sequentially numbered calendar year, it is also allowed to hold different numbers when there is a need.

For example, assume a company with two branches in two different cities: it is clear that for practical reasons it would be too complex to trace the bills both to the same numbering. Therefore, you had better adopt two different numbers, perhaps adding to distinguish one letter. To which, the first branch will number its bills 1 / A, 2 / A, 3 / A, etc., while the second call the 1 / B, 2 / B, 3 / B, and so on.

 

The invoice must also contain some of the data to the transferor, the name and surname or company, whether individual or corporate name if it is a company or an organization other, the address and the VAT registration number.

As far as the law does not address the particular indications: therefore it is possible to indicate the residence, registered office or operational phases, the reference branch. It does not hurt, however, to indicate all these places, for each caution.

 

The prompts concern however, the transferee: name and surname or name or company name and address. Not necessary to indicate the VAT, which, moreover, the client might be missing.

Neither the transferor nor the transferee is required to indicate the tax code, although it is still a question that may come back very useful and advisable.

It must also indicate the nature of the operation, specifying the characteristics of the service offered or the quantity and quality of the goods supplied. The claim can be expressed in a very concise, but in any case it is essential to make sure that a hypothetical third is put in a position to grasp in what is consisted of the operation.

 

 

25/01/2009

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Translated via software

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Source:

Italian version of ReteIngegneri.it