- French tax authorities published updated guidance on correcting VAT errors
- Businesses must follow specific procedures to standardize VAT errors effectively
- Issuer of an invoice is responsible for paying any incorrectly invoiced VAT
- Regularization is possible for exempt transactions or excessive VAT rates
- Process involves issuing an amended invoice to the customer before correcting VAT with authorities
- Technology plays a critical role in addressing VAT compliance challenges
Source: vertexinc.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.
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