Doubts about the electronic invoice for the flat-rate scheme? Get enlightened by our example!
Are you a professional subject to the flat-rate regime and want to learn more about how to fill out an e-invoice for flat-rate regime and what fields must be compulsorily included?
Appvizer comes to your rescue on a white horse by showing you everything there is to do, but most importantly with a practical example of an e-invoice for flat rate regime that you can modify to your liking.
How do you fill out a flat-rate regime e-invoice?
Have you been keeping an eye on all the news about electronic invoicing over the years, but without worrying too much because you are subject to the flat-rate regime? Well your time has come! Let's see step by step how to deal with it!
The data to be included in the invoice
To fill out an e-invoice as a flat-rate regime you will have to compulsorily fill in some fields, the latter are actually the same whatever your tax regime and are established by law in Article 21, paragraph 2, Presidential Decree 633/1972.
- First, you will have to report the date and progressive number of issue.
- Next, you will have to enter the supplier and customer data such as the company name, its name, address, business name, VAT number and tax code.
- In addition, you will also have to enter the description of the goods by adding other details such as quantity and price. In case there are discounts and charges you have to indicate them.
- Another item not to be forgotten is the date on which the delivery customer or the date on which you were paid the amount. Finally you have to enter the total amount of the invoice.
What wording should be included on the invoice for the flat-rate scheme?
In addition to the basic details we have told you in the previous paragraph, there are other key wordings to include on your invoice. In this way, you will communicate to your clients, through an appropriate wording, that you are subject to the flat-rate regime and that you therefore have simplifications on VAT and taxes on benefits. The elements you will have to pay attention to are 3:
- 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 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 June 17, 2014." In addition, in this case the amount of the stamp duty must be included in the final invoice amount.Accordingly, the invoice amount will consist of the invoice amount to which the €2 stamp duty is added.
- For amounts greater than 77.47 euros, it will be sufficient to mention, "2 euro stamp duty paid on the original".In addition, again for amounts greater than 77.47 euros, the virtual stamp duty to be paid by the supplier must be applied.
Another advantage of the flat-rate regime is the exemption from withholding tax. For this there is a wording to be applied to your invoice: "transaction not subject to withholding tax pursuant to Article 1, paragraph 67, l. No. 190 of 2014 as amended." This, also allows you to show your client that in case he issues you an invoice, you do not need to apply withholding tax.
After filling out your invoice, you will have to transmit it compulsorily within 12 days to the Interchange System. If you issue it right away, your invoice will be called immediate, but if it is transferred at a later date, your invoice will be considered deferred.To give you a concrete example, if you have sold products to one of your customers and you transmit the invoice on the same day to the Interchange System, your invoice will be considered immediate, but if you decide to transfer it after 5 days, your invoice will be considered deferred.
Example of electronic invoice for flat-rate regime
As seen in the previous paragraphs here in the image below is an example of an e-invoice for flat-rate regime, which includes the wording and data required by law.Convert your invoice to XML format and send it to the client.
Resorting to software to make your e-invoice under the flat-rate regime?
In November 2021, Italy asked to extend the electronic invoicing obligation until December 31, 2024. At the December 13 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, resorting to using software such as Invoices in the Cloud to make your electronic invoice under the flat-rate regime is the best choice.
Why resort to this type of software?
This solution allows you to digitize most of the management of your VAT number, in fact in a single platform you can send and receive invoices, manage customer payments, compile the first note, view reports and analysis on expenses and turnover and do much more.
It is no coincidence that many professionals use this software, as it offers beneficial services. It's not over yet the software has additional features that allow you to:
Compile invoices quickly
Thanks to the auto-compile system, creating your electronic invoices will become simple. In fact, when you start entering the first few fields, the software can suggest the other data to be entered. This way you will minimize errors and time spent preparing invoices.
Storing invoices
Another advantage is that invoices can be stored in digital format in accordance with the law for the expected 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 the Internal Revenue Service. In addition, there is the possibility of sending invoices via PEC or e-mail to the client, this has a double advantage, from an ecological point of view, there is no waste of paper and on the other hand the client will be able to keep all invoices saved on his system.
Working remotely
In this way, 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 will be, in this case, an Internet connection. In addition, billing software often offers the possibility of access from any device, which makes invoices searchable at any place and time.
Going beyond billing
Software can also be used not only to create invoices, but also to record payments. Often payment systems are also built into these software, allowing invoices to be settled automatically.
This type of software also allows for better communication with the accountant, who can have the status of his clients' invoices available to him at all times.
If you have made it all the way through you will surely have understood how to make an electronic invoice for the flat rate regime.And since Appvizer keeps its promises here is an example of an invoice for the flat rate regime.
Article translated from Italian