VAT Invoicing


This note covers changes to the existing VAT invoicing rules as issued by Revenue.

The new legislation simplifies, modernises and harmonises the VAT invoicing rules and in particular eliminates the current barriers to e-invoicing. Paper and electronic invoices shall be treated in a similar way for the purposes of VAT. The new rules should increase the use of electronic invoicing which in effect should reduce burdens on business, support small and medium sized enterprises and provide more flexibility for business in the use of electronic invoicing.

New Rules as from 1 January 2013

     - there is prior agreement between the issuer and the recipient in relation to the issue and acceptance of invoices or documents in electronic format,

      - the electronic system being used conforms to the following specifications

      - the system must be able to produce, retain and store electronic records and messages in such form and containing such particulars as are required for VAT purposes, and make them available to Revenue on request

       - the system must be able to reproduce in paper or electronic format any electronic record or message required to be produced, retained or stored,

       - and the system must be able to maintain electronic records in a manner that allows their retrieval by reference to the name of the person who issues or receives the message or the date of the message or the unique identification number of the message.

Brian Dignam is Director in OSK. Contact OSK tax consultants for more information on changes to VAT invoicing.

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