- Calculation of French VAT involves roundings and ancillary costs for specific rates
- Gross amount in terms of VAT is the tax base or taxable base of the operation
- Tax base includes consideration obtained, taxes, duties, ancillary costs, and subsidies
- Tax base excludes price decreases, rebates, and amounts received for expenses
- Exchange rate for foreign currency payments is the last selling rate at the time VAT becomes due
- Businesses can use the most recent exchange rate published by the European Central Bank
- VAT is payable for services upon receipt of the price or deposit, and for goods upon receipt of advance payments or delivery
Source: cyplom.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
