Turnover of less than 2 million euros, but calculated according to VAT rules , i.e. turnover reflected in the tax and computed with VAT included. Do not confuse this parameter with the net amount of the turnover.
Not having cash collections from the same recipient exceeding 100,000 euros
In order to be eligible for the application of cash VAT in our company, we must apply for inclusion in this regime during the month of December prior to the fiscal year with the telegram korean list corresponding census declaration. If we are a VAT taxpayer who registers during the current fiscal year,
we will have to communicate this option at the time we register the obligations derived from VAT.Direct debit, the big unknown in collection imputations
Today, the most complicated factor for allocating the effective date of collection is the collection of direct debits issued under rule 19. Today, the return period for receipts can be up to 53 days, so effectively, collection would not be made until the ordinary return period has elapsed.
The Tax Agency has not yet commented on this point, but the reasonable criterion to follow is the imputation of VAT at the time of payment of the remittance after the settlement of the refunds within the first 7 days. However, this problem will be eliminated by the implementation of SEPA in B2B systems, since there will be no refund period longer than 3 days.
Formal requirements for issuing cash VAT invoices and annotation criteria
Companies that use the cash regime for VAT will have to make express mention of this fact on their invoices, using the phrase “Special cash VAT regime” or similar, so that the recipient of the invoice clearly knows that these VAT quotas will not be deductible until the invoices are actually paid.
The emergence of this new regime requires all companies to include two new fields in their VAT registration books. In these books, we will have to add an additional field that reflects the date of total or partial collection or payment and the means of payment used for the collection or payment of said invoices.
If I have not opted for the cash system, the previous fields for collection date and payment method are not mandatory in the accrued VAT book.