Doubts about the electronic invoice for the flat-rate scheme? Be enlightened by our example!
Are you a professional subject to the flat-rate scheme and would you like to learn more about how to compile an e-invoice for the flat-rate scheme and which fields must be included?
Appvizer comes to your rescue on a white horse by showing you everything you need to do, but above all with a practical example of an e-invoice for the flat-rate scheme that you can modify to your liking.
How to compile an e-invoice for the flat-rate scheme?
Have you been keeping an eye on all the news about e-invoicing over the past few years, but without worrying too much because you are subject to the flat-rate scheme? Well your time has come! Let's take a step-by-step look at how to deal with it!
The data to be entered on the invoice
To compile an e-invoice as a forfait regime, you will have to fill in some fields. These fields are actually the same whatever your tax regime , and are laid down by law in Article 21, paragraph 2, Presidential Decree 633/1972.
- First, you will have to enter the date and progressive issue number.
- Next, you will have to enter the supplier's and customer's data such as the company name, its name, address, company name, VAT number and tax code.
- In addition, you will also have to enter a description of the goods and other details such as quantity and price. If there are discounts and charges, these must be indicated.
- Another element not to be forgotten is the date on which the delivery customer or the date on which the amount was paid to you. Finally, the invoice total must be entered.
What details must be entered on the invoice for the flat-rate scheme?
In addition to the fundamental data we have indicated in the previous paragraph, there are other fundamental entries to be made on your invoice. In this way, you will inform your customers, by means of an appropriate endorsement, that you are subject to the flat-rate scheme and that you therefore have simplifications on VAT and tax on benefits. There are three elements to which you should pay attention:
- First, you should explicitly state that the transaction is exempt from VAT. To do this, there is the wording: 'Transaction without application of VAT, carried out pursuant to Article 1, paragraphs 54 to 89, l. no. 190 of 2014 as amended by l. no. 208 of 2015 and l. no. 145 of 2018'.
- For amounts of less than €77.47, it is necessary to apply a €2 revenue stamp , which remains the customer's responsibility, and to indicate: 'stamp duty paid virtually pursuant to Ministerial Decree of 17 June 2014'. Furthermore, in this case the amount of the stamp duty must be included in the final invoice amount. Consequently, the invoice amount will consist of the invoice amount to which the EUR 2 stamp duty is added.
- For amounts greater than €77.47, it will suffice to mention: '2 euro stamp duty paid on the original'.In addition, for amounts greater than €77.47, the virtual stamp duty must be charged to the supplier.
Another advantage of the flat-rate scheme is the exemption from withholding tax. For this, there is a wording to be applied to your invoice: 'operation not subject to withholding tax pursuant to Article 1, paragraph 67, Law No. 190 of 2014 and subsequent amendments'. This also allows you to show your client that no withholding tax needs to be applied in the event he issues you an invoice.
After completing your invoice, you must send it to the Interchange System within 12 days. If you issue it now, your invoice will be defined as immediate, if you transfer it at a later date, your invoice will be considered deferred.To give you a concrete example, if you have sold products to a customer and you send the invoice on the same day to the Interchange System, your invoice will be considered immediate, if you decide to transfer it after 5 days, your invoice will be considered deferred.
Example of e-invoice for flat-rate regime
As seen in the previous paragraphs, here is an example of an e-invoice for the flat-rate scheme, which includes the wording and data required by law.Convert your invoice into XML format and send it to your customer.
Using software to create your e-invoice under the flat-rate scheme?
In November 2021, Italy requested an extension of the electronic invoicing obligation until 31 December 2024. At the 13 December meeting of the Council of the European Union the request was approved, electronic invoicing will remain mandatory until the end of 2024 and will be extended to taxpayers under the flat-rate scheme.
If you want to simplify your life, using software such as Invoices in the Cloud to create your electronic invoice under the flat-rate scheme is the best choice.
Why use this type of software?
This solution allows you to digitise the majority of your VAT management. In fact, in a single platform, you will be able to send and receive invoices, manage customer payments, compile the first note, view reports and analyses on expenses and turnover, and do much more.
It is no coincidence that many professionals use this software, as it offers advantageous services. But that's not all. The software has additional features that allow you to:
Compile invoices quickly
Thanks to the auto-compile system, creating your electronic invoices will become easy. In fact, when you start entering the first fields, the software can suggest other data to you. This way you will minimise errors and time spent preparing invoices.
Storing invoices
Another advantage is that invoices can be stored digitally in accordance with the law for the planned duration of 10 years.In addition, for proper storage, according to the standard, it integrates 2 essential elements: time stamp and digital signature.
Transmitting invoices to the Interchange System
Invoices are sent in XML format to the Sdi and to the Internal Revenue Service. In addition, there is the possibility of sending invoices via PEC or e-mail to the customer. This has a double advantage, from an ecological point of view, there is no waste of paper and on the other hand the customer can keep all invoices saved on his system.
Working remotely
Employees who are not present in the company and who want to consult an invoice will be able to do so directly in the cloud. The only tool needed in this case will be an internet connection. In addition, invoicing software often offers the possibility of access from any device, which makes invoices accessible at any place and time.
Going beyond invoicing
Software can also be used not only to create invoices, but also to register payments. Often payment systems are also integrated in these softwares, allowing invoices to be settled automatically.
This type of software also allows better communication with the accountant, who can always have the status of his customers' invoices at his disposal.
If you have made it all the way through, you will certainly have understood how to create an electronic invoice for the flat-rate regime. And because Appvizer keeps its promises, here is an example of an invoice for the flat-rate regime.
Article translated from Italian