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Therefore we have chosen the issuance and posting of corrective invoices for domestic sales as the main topic of our today's publication. When are correction invoices issued? A correction invoice is issued in various situations that affect the information contained in the original invoice. The most common reasons for issuing corrective invoices are There is an error in the price VAT rate VAT amount or any other item on the invoice.

Return of goods by the buyer. . Issuing an invoice without appropriate marking e.g. "Split payment mechanism". Refund of the philippines photo editor advance payment paid to the buyer. The corrective invoice is issued by the entity that issued the original invoice. What types of correction invoices do we have? As a result of an invoice correction the tax base may be reduced or increased. There are two types of correction invoices Correction invoices in minus.



When the tax base after the correction is lower than on the original invoice. Correction in plus invoice – when the tax base after the correction is higher than on the original invoice. The moment of posting the invoice depends on what type of correction invoice we are dealing with. Below we will describe using examples how correction invoices should be issued and posted by both the seller and the buyer. Invoices correcting domestic sales for income tax purposes.