Invoice particulars

What it means

Invoice particulars are the details an invoice must contain to be a valid tax document under the VAT Act. They include the supplier’s and customer’s names and addresses, their VAT numbers, a sequential invoice number, the issue date and the date of supply or payment, and the quantity and type of goods or extent of services.

The invoice must also show the taxable amount for each rate, the unit price net of tax, discounts not included in the price, the VAT rate applied and the tax amount in euro. For exempt supplies or reverse charge, the relevant legal reference or wording must be given.

An invoice is also an accounting document and must meet the requirements of the Accounting Act. The law also recognises a simplified invoice with fewer details, for example for smaller amounts.

How it works in practice

On incoming invoices we check above all the supplier’s VAT number, the date of supply, the rate and the tax amount. If anything is missing or wrong, we ask for a correction before the client claims the deduction, because the tax office may challenge it at an audit.

For outgoing invoices we set up templates in the invoicing software so that they fill in the mandatory details automatically, along with the correct wording for reverse charge, intra-EU supplies or exemptions. Standard templates greatly reduce errors.

An electronic invoice has the same particulars as a paper one. Authenticity of origin, integrity of content and legibility must be ensured for the whole retention period. As mandatory e-invoicing arrives, the structural requirements will become stricter still.

What to watch out for

The most common mistake is a missing or wrong date of supply where it differs from the issue date. It determines the period in which the tax arises, and without it both supplier and customer may declare the tax incorrectly.

The second risk is reverse-charge invoices without the proper wording and with VAT shown. The customer cannot deduct on them as on an ordinary invoice, and the supplier pays tax it did not owe. Fixing it needs corrective documents on both sides.