Remember always to agree with your client that your invoice doesn’t include VAT because you are not liable for VAT due to small-scale business. This is how you can sell your work or service with lower cost and this is a good benefit for private persons and associations which are not registered to tax registration and they cannot reduce the tax in their tax declaration. The invoice is always without taxes (VAT 0%) In LITE-service you don’t need and cannot add VAT to your invoice. Please note, when pricing your work to inform and agree with your client if the price is including VAT 24% or not and inform the client which tax rate is in your invoice (0%, 10% or 24%). VAT 24% is a tax and belongs totally to the tax office and when invoicing through invoicing service, the invoicing service is obliged to settle the paid tax to the tax office. The company makes its own tax declaration and declares 240€ as a paid tax (VAT) and tax office will return the paid tax back to the company.įor a company the cost of your work/product 1000€ because tax office returns the paid tax to the company. Invoices must also include the following data for every VAT tariff or exemption: the price per piece or unit. the company receives an invoice total 1240€ including 240€ VAT. the nature and type of goods or services supplied. You make an invoice in the invoicing service of your work with a total amount €1000 + 24%VAT agreed with your client. When your client pays the invoice, the invoicing service will settle VAT 240€ to the tax office and the sum without tax is the base for your salary.įor a private person the cost of your work/product is 1240€, because he cannot reduce the tax in his tax declaration.Įxample 2 – you are invoicing company using the invoicing service. Private person receives an invoice total 1240€ including 240€ VAT. – Company, registered to VAT registration can reduce the VAT in its own tax settlement and gets that way the paid tax back.Įxample 1 – you are invoicing private persons using the invoicing service. VAT is named as a consumption tax, because consumer pays the full VAT amount and cannot reduce it in own tax description. Seller is acting as a collector for the tax authorities and settles the tax fully to tax office. VAT is always paid by buyer, who buys work, product or service even if the buyer is private person or a company. VAT depends on the branch were the seller is working: 0%, 10% or 24%. Our financial service is naturally flexible and compliant with customer needs and can be amended later to meet changing necessity.-VAT is a consumption tax and it will be added to the works price, service price or product price by seller (VAT 0-24%). Preparation of data services related to credit and loan contracts. Preparation of notification letters and late payment interest calculations.Uploading salaries and social charges to banking systems.Handling online banking systems, mainly for downloading bank statements, and uploading the payable invoices and taxes and other liabilities to the bank terminal or web banking systems.Reconciliation of debts and obligations with partners as a base of the Annual Report.Customer and supplier current account reconciliation during the year and at the end of the year.The most significant services are the following: Other financial servicesīeyond invoicing services we offer you our help in several other fields. Our office enters into a contract, in accordance with VAT regulations, only after having a written authorization. In order to avoid default penalties, all invoices have to be issued with the right data complying with the deadlines.Įven giving the right dates on an invoice requires accountancy skills, thus, entrusting invoicing to our office you can avoid significant risks. Properly issuing invoices require much attention and the knowledge of legal regulations. The most significant element in this package is the invoicing service. As part of this service, we undertake the tasks of a classically interned financial colleague from our partners, which can save a lot of time and money to concentrate on their core tasks. Our financial outsourcing activity is a complementary service element in our palette that will further reduce our partners’ administrative burden.
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