VAT Cashier Regime – until 31 octo

The VAT Cashier Regime is a simplified and optional regime of taxation under which the tax attributable to transactions included in it is, by rule, chargeable only at the moment of the receipt of all or part of the payment, thus preventing the company to "support" the VAT invoices not yet paid by customers.   Likewise, also, the deduction of VAT supported on purchases of goods and services is only possible at the time of payment to their suppliers.    However the tax that is included in invoices whose receipt has not yet occurred, becomes chargeable:  •    on the 12th month after the date of issue of the invoice, the tax period corresponding to the end of the term;   •    In the period following submission of assignment of the registration in this regime;     •    The period corresponding to the delivery of the Declaration of cessation of activity.   Who can benefit from this Regime Can select the VAT Cashier Regime the VAT taxpayers that cumulatively gather the following conditions:    1. Are registered for VAT purposes for at least 12 months;  2. Have the tax situation regularized and have no reporting obligations at fault;  3. Have not reached during the calendar year prior to the request, a turnover of more than € 500 000;  4. Do not engage in exclusively activities exempted under article 9 of the VAT Code, and neither are covered by the exemption provided for in article 53, or by small retailers ' scheme provided for in article 60, both of the VAT code.   Who cannot benefit from this Regime Cannot select the VAT Cashier Regime taxable persons that have activities of:   -Import and export;  -Intra-Community transactions of goods and services;  -Operations where there is reversal of the VAT taxable person;  -Operations on that taxable persons have special relations in terms of numbers 10 and 12 of article 16 of the VAT Code.   Rules on the invoice and receipt emission Invoices, including simplified ones, should be marked with "VAT-Cashier Regime" as well as having a special series.     On the date of payment of the invoice, whether total or partial, it must be issued a receipt which must be dated, numbered sequentially and contain the following elements:   - The amount, net of tax;  - The rate or rates of VAT;  - NIF of the issuer and the acquirer;  - Serial number of the invoice referred to the payment;  - The mention "VAT-Cashier scheme".    This has to be issued in duplicate, the original delivered to the purchaser and the copy serves for taxpayer file issuer.    With this scheme, in addition to the reporting of invoices and shipping documents to the Tax Authority, it becomes mandatory the reporting of:  •    Receipts issued by who's covered by the VAT Regime;   •    Receipts issued to taxpayers covered by this scheme for taxable persons who are not covered by it.   This option can be reported to the Tax Authority and Customs (AT) until October 31, 2015, taking effect as of January 2016, being required to remain in this scheme during 2 consecutive years.