Every invoice needs a VAT breakdown section.

Each VAT category used in your line items MUST appear in the breakdown with:
→ A taxable amount
→ A tax amount
→ A category code
→ A category rate (except for "Not Subject to VAT")

Calculus gets you ready.

#VATUAE #Peppol

Deemed supply transactions (transaction type code X1XXXXXX):

→ Payment due date is NOT required
→ Payment means type code is NOT required

Makes sense. There's no payment when goods are supplied without consideration.

Free assessment call, link in bio.

#VATUAE #RegTech

If you mark an invoice line as "Standard Rated," the VAT rate MUST be greater than zero.

If you mark it "Zero Rated," the VAT rate MUST be exactly 0.

If you mark it "Exempt from VAT," the VAT rate MUST be 0.

Calculus gets you ready.

#VATUAE #RegTech