Explanatory Notes on VAT invoicing rules

The European Commission has published Explanatory Notes on VAT invoicing rules to provide a better understanding of VAT invoicing requirements as laid down in Council Directive 2010/45/EU. This second Directive on VAT invoicing was adopted on 13 July 2010 and its provisions have to be applied by Member States as from 1 January 2013.

It aims to promote and further simplify invoicing rules by removing existing burdens and barriers. It establishes equal treatment between paper and electronic invoices without increasing the administrative burden on paper invoices and has the aim to promote the uptake of e-invoicing by allowing freedom of choice regarding the invoicing method.

For a clear understanding of the main VAT invoicing rule changes as from 1 January 2013 a set of Explanatory Notes has been written.

Source: European Commission