Fernando Matesanz of Spanish VAT Services breaks down the tax authority’s recent proclamation on rectifying invoices, with the potential for more flexibility for businesses.
A common practice among companies is to rectify invoices for a wide variety of reasons (for example, due to an erroneous issue of the original invoice) by completely cancelling the invoice initially issued. They would then issue a new invoice, with a positive sign, with the correct data.
Source International Tax Review
