I have received an invoice from last year, what should I do?
Posted: Sun Dec 22, 2024 5:17 am
In the first quarter of the year, we often receive invoices from the previous year that have been misplaced and that we don't keep track of. Don't worry, it's more common than you think.
Invoices can hide in the most unexpected places, from misplaced paper files to undownloaded files in emails or inside your car.
What to do in these cases? Is it possible to deduct the VAT from invoices from previous years?
What does the law philippines phone number list say about reporting invoices from previous years?
Law 37/1992 on Value Added Tax establishes a margin of maneuver for deducting Input VAT .
According to this regulation, this right can be exercised in the settlement period in which the deductible fee was borne or in the following periods, within a maximum period of four years from the date of issue of the invoice.
How to declare an old undeclared invoice
If you find yourself with an invoice from a previous year , the first step is to make sure that it is still within the four-year period established by law. If it is within this limit, you can follow these steps:
Compliance with requirements: check that the invoice meets the requirements to be included in the quarterly declaration: that the VAT rate is reflected in the invoice, that it is duly recorded in the book of invoices received and that the right to the deduction has not expired.
Invoices can hide in the most unexpected places, from misplaced paper files to undownloaded files in emails or inside your car.
What to do in these cases? Is it possible to deduct the VAT from invoices from previous years?
What does the law philippines phone number list say about reporting invoices from previous years?
Law 37/1992 on Value Added Tax establishes a margin of maneuver for deducting Input VAT .
According to this regulation, this right can be exercised in the settlement period in which the deductible fee was borne or in the following periods, within a maximum period of four years from the date of issue of the invoice.
How to declare an old undeclared invoice
If you find yourself with an invoice from a previous year , the first step is to make sure that it is still within the four-year period established by law. If it is within this limit, you can follow these steps:
Compliance with requirements: check that the invoice meets the requirements to be included in the quarterly declaration: that the VAT rate is reflected in the invoice, that it is duly recorded in the book of invoices received and that the right to the deduction has not expired.