ᐅ Reduced value-added tax until the end of 2020. How to proceed with invoices?
Created on: 4 Jun 2020 10:23
A
annab377
Hello everyone,
The coalition government reduced the VAT from 19% to 16% from July 1, 2020, to December 31, 2020. This should also be interesting for homeowners.
However, I have some questions about how this works in practice. Does this only apply to invoices issued by the end of the year? Or do the payments also have to be made by then?
Is it possible to arrange with contractors to issue the invoice in December 2020, but I pay only in February after the work is completed? In that case, do I still pay the reduced VAT rate, or is the invoice amount 3% too low and I have to pay the difference in February?
What do you think?
Best regards
The coalition government reduced the VAT from 19% to 16% from July 1, 2020, to December 31, 2020. This should also be interesting for homeowners.
However, I have some questions about how this works in practice. Does this only apply to invoices issued by the end of the year? Or do the payments also have to be made by then?
Is it possible to arrange with contractors to issue the invoice in December 2020, but I pay only in February after the work is completed? In that case, do I still pay the reduced VAT rate, or is the invoice amount 3% too low and I have to pay the difference in February?
What do you think?
Best regards
Schimi179118 Dec 2020 19:10Yes... I agree. My "invoice date" is misleading. I assumed that the invoice would be issued immediately after the service was provided. However, that is not always the case.