VAT And Periodic Recapitulating Invoices

Invoices corresponding to transactions performed by a party liable to VAT must always be issued upon occurrence of the event giving rise to VAT.

The authorities have accepted, however, that firms may issue recapitulating invoices if the following two conditions are satisfied:

- the business requires the same operations to be repeated with a single customer several times a week; and
- this frequency of operations concerns many customers.

In such case, the undertakings must provide their customers, upon delivery of the goods, with delivery notes numbered continuously and the invoicing period may not exceed fifteen days (30 subject to permission from the Director of the Tax Department).