Since the new e-invoicing reform is fast approaching, it is best to remind ourselves about the mandatory invoicing requirements and invoice elements. Electronic invoices are set to have the same mandatory elements as paper invoices.
If you're doing business in France, you'll need to be familiar with the rules regarding invoicing, so we unveil the requirements, as follows.
Invoicing rules and mandatory elements on receipts in France
Public
France
Author: Kristina Dosen
Category:
Fiscal subject related
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1003
Content accuracy validation date:
18.04.2023
Content accuracy validation time:
08:15h
Content
An invoice is a detailed note of services performed or goods sold. Here are the requirements regarding the form:
- It must be written in French.
- It must be drawn up in two copies, including the original for the customer.
- It must include several detailed indications below.
A company established in France may also, under certain conditions, invoice in a foreign currency provided that the foreign currency is internationally recognized and convertible (dollar or pound sterling, for example) and that the reintegration into the company's accounts is done in euros. The invoice can also be written in a foreign language, in which case the administration may require the translation to be certified by a sworn translator for control.
According to the French Ministry of Economy, all invoices must include the name and address of the supplier, as well as the date of issuance and the invoice number. Additionally, the customer's name and address must be included, along with a detailed description of the goods or services provided.
Furthermore, the invoice must also show the amount of tax due and the rate of tax applied, along with the total amount payable, including all taxes. If the invoice is subject to VAT, the VAT identification numbers of the supplier and the customer must also be included.
These rules are applied to all invoices issued by businesses, regardless of the sector they operate in or the size of the company. Failure to comply with these requirements could result in penalties and fines.
Companies that do not comply with the invoicing rules are subject to the following fines:
- a tax fine of €15 per missing or inaccurate statement. However, the amount of the fine may not exceed a quarter of the amount of the invoice.
- an administrative fine of €75,000 for a natural person and €375,000 for a legal person. This fine can be doubled in the event of a repetition of the fault within two years of the first sanction.
The French government has stated that the new e-invoicing mandate is necessary to combat tax fraud and ensure fair competition between businesses. The move is part of a wider effort by the French government to crack down on tax evasion and promote transparency in business practices.
In conclusion, businesses operating in France must ensure that all invoices they issue comply with the new regulations announced by the French government. This is to avoid penalties and fines, and to contribute to a fair and transparent business environment in France.
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