From 01 January, 2014, the following changes will come into effect. The requirement of invoices will be transferred to the VAT Act, and will result in the newly added objectives to the VAT Act. The changes will include the basic invoicing period and in relation to some of the activities covered by specific rules, shall issue invoices.
Basic invoice date
From January, 2014, according to a new important principle, you will need to issue an invoice no later than the 15th day of the month, following the month in which the delivery of the goods or services were performed. However, in art. 106i paragraph. 7 of the VAT Act, further indicates that the invoices cannot be issued earlier than the 30th day before the delivery or performance of services.
Advance Payment Invoice
In 2014, the taxpayer will be required to issue an invoice before the delivery of the goods, or the service receives a percentage of the receivables in respect of when the chargeable event occurs. Currently, in this case, the invoice is issued no later than 7th day of receipt of the balance.
From January, 2014, the advance payment invoice will be on display generally no later than the 15th day of the month, following the month in which they received all, or part of the payment from the buyer (Article 106i paragraph. 2 of the VAT Act).
Specific deadlines invoicing
Just like now, and from 2014 in respect of certain activities identified specific billing dates. The invoice will be exposed to no more than:
- 30 days after the date of the service – the provision of construction services, or construction and installation,
- 7 days specified in the agreement on the return package – if the buyer fails to return the package back under bail, but in a situation where the recipient does not return the packaging specified date, the invoice will be exposed to no more than 60 days from the date of packaging.
Note the wording of Art. 106i paragraph. 7 of the law on VAT Act, which will, in the case of invoices documenting such charges for utilities, rent, regular legal services and office space that will include information about what time the invoice relates, they could be issued earlier than 30 days before the service.