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Friday, 24 January 2003 00:00

The obligation to issue correct invoices

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The information regarding economic transactions of businessmen and professionals are recorded in documents denominated invoices. Incoices should be made to be clear and concise, as to the contrary they will not be deductible from the income of the businessmen or professionals concerned, or to put it another way, if they are incorrectly issued, they will not be accepted as legally valid.

What is more, if a consumer wanted to make a claim for poor servide or to return a product, an incorrect invoice will not be considered valid. Invoiices are also necessary to be able to deduct the IGIC (the value added tax of the Canary Islands).

In view of this, borh businessmen and professionals are abliged to issue and provide invoices for all transactions that they carry out and to conserve a copy or a voucher of these invoices.

Invoices must clearly indicate all the items delivered or all the services provided by the businessmen or professionals in question. All invoices must, atleast, contain the following details and information:

An invoice number and it being the case, serial number. The numbering of the invoices must always be in consecutyve order.

The name and surname/s or company denomination, fiscal identification number issued by the Spanish tax authorities, or, it being the case, that of another country member of the Eiuropean Commuynity toghether with the address, both of the issuer of the invoice and of the consumer. In the event of non-residents, ther permanent address must also be provided.

When the consumer is a person who does not carry out any business or professional activities, specification of that person’s name, surnames and fiscal identification number will be sufficient.

A description of the transaction itself and its total price.

When the IGIC is included int he given price, only the rate applied needs to be established, or the statement 'IGIC included'.

The date and place of issue of the invoice. In the cases listed below and as long as the amount of the invoice des not exceed 3,000 Euros , the invoices can be substituted by books of numbered receiptsor, failing this by “tickets” issued by a tax register:

a) Retail sales, including those carried out by the manufacturers makers of the products sold.

b) The transport of people and their luggage.

c) Services provided in restaurants, bars or cafeterias.

d) Dance Halls and discotheques.

e) Hairdressers and beauty parlours.

f) The use of sports facilities.

g) The developing of photographs and photographic studios.

h) Services involving parking or stationary vehicles.

i) Video club services.

In the book of the receipts issued, at least the following details or requirements must be specified:

Receipt number and it being the case, serial number. Numbering must be correlative.
The fiscal identificationb number of the issuer of the receipt.
The taxable rate applied or the statement 'IGIC included'.
Total price.

All consumers have to right to request a detailed invoice from the businessman or professional provideng the product or service.

When a businessman or professional has prepared an incomplete or incorrect invoice, he is obligued to rectify this in the manner established by Law.

All invoices issued telematically have the same validity as original invoices.

Conservation. Invoices must be kept with their original content and in chronological order of issuing by the businessman or professional who wishes to deduct it from his income.

The normal validity of an invoice is four years. In the case of investment assets, they should be kept until their total redemption.

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