Tuesday 19th March, 2019
Connecting Europe Facility (CEF) has published a VAT Exemption reason (VATEX) code list and updated the Electronic Address Scheme (EAS) ready for the electronic invoicing directive.
The publication of these code lists comes ahead of the 18th April 2019 legal deadline for compliance with the European standard, as set out in Directive 2014/55/EU on electronic invoicing in public procurement.
Electronic invoices can contain a variety of information in various data types. To allow for cross-border interoperability, information in code form can only contain values which are chosen from specific code lists that are identified in the European standard on eInvoicing.
The European standard on eInvoicing makes it possible for sellers to send invoices to many customers by using a single eInvoicing format. This means they do not have to adjust their sending and/or receiving to connect with individual trading parties.
Publication of the VAT Exemption reason (VATEX) code list:
The European standard on eInvoicing defines the business term "VAT exemption reason code list". This optional code allows sellers to state in a coded way the VAT exemption reason, in order to support automation of VAT processing and reporting. This code complements the textual description of VAT exemption reasons, which is itself mandatory in the case of exemptions.
EAS Code List Updated:
The Commission has also announced an update to the Electronic Address Scheme (EAS) code list (v2.0). The EAS code list was first published in November 2018.