Concerning value added tax (VAT), there is a new requirement for VAT-payers that record their customers’ payments using accounting, management or cash software to use secured, certified software systems beginning 1 January 2018. The new requirement is part of an effort to address VAT fraud.
VAT-payers that fail to comply with the new requirement may be subject to a penalty of €7,500 per software, and be required to correct the situation within a 60-day period. The new measures also provide specific inspection authority for the tax administration.
The new rules apply to all VAT-payers, and the qualifying software systems must satisfy four conditions:
Read a May 2017 report [PDF 33 KB] prepared by Fidal*
* Fidal is a French law firm that is independent from KPMG and its member firms.
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