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VAT Query

IrishAlice · 2012-03-16 10:31:21

Hi There, I have a question about VAT charges on sales invoices. If an invoice was raised in 2011 at 21% and subsequently has to be credited in 2012 should the credit note be raised at 21% or 23%? I'm thinking 21% but would like to know for definite which rate and why. Thanks in Advance for any help!

16-03-2012 10:31am

#1

IrishAlice

Registered Users, Registered Users 2 Posts: 557 ✭✭✭

Join Date: September 2009

Posts: 518

Hi There,

I have a question about VAT charges on sales invoices.

If an invoice was raised in 2011 at 21% and subsequently has to be credited in 2012 should the credit note be raised at 21% or 23%?

I'm thinking 21% but would like to know for definite which rate and why.

Thanks in Advance for any help!

0

Comments

#2 16-03-2012 10:53am

ants09

Registered Users, Registered Users 2 Posts: 717 ✭✭✭

Join Date: January 2011

Posts: 671

Any VAT credit note or debit note relating to a supply of goods or services which contains a VAT adjustment and which is issued to a VAT-registered person, a public body or an exempt person on or after 1 January 2012 should show VAT at the rate in force at the time the original invoice was issued.

as per revenue website http://www.revenue.ie/en/tax/vat/leaflets/increase-in-standard-rate.html

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