Module 124 min2913 wordsFree — no account
Selling and buying goods inside and outside the EU: supplies, acquisitions, exports
The module’s worked examples, then cases to attempt before revealing their solution · 2 sections · 276 words · 3 min
Worked example
Three shipments in March
A Parma business ships three consignments of cheese on 4, 18 and 27 March to an Austrian distributor that has given its VAT number. It may issue one invoice per shipment, and in any case must do so by 15 April. All three invoices state that the supply is not taxable and show the buyer's number, and they are entered in the sales ledger under March.
Practical case
A Spanish invoice to complete
A Bergamo limited company, which deducts all the VAT on its purchases, buys electronic components for 12,000 € from a supplier in Valencia; the goods carry the standard rate. The supplier lists the sale in its own return and sends an invoice without Spanish tax, which arrives on 10 March 2026. How much VAT appears in the company's ledgers, by when must it be entered, and what does it do to the periodic return?
Hint: First ask who owes the tax on a purchase from an EU supplier, then follow the invoice through the two ledgers that article 47 requires.
Show the solution
The supplier is established in another Member State, so the obligations fall on the Italian buyer. The company completes the invoice: it numbers it and adds tax at the standard rate, 12,000 × 22 % = 2,640 €. It enters it in the sales ledger by 15 April 2026, allocated to March, and separately in the purchase ledger in order to deduct it. The tax shows once as owed and once as deductible in the same periodic return, and because deduction is full the two entries cancel out.
Answer: 2,640 € owed and 2,640 € deducted, entered by 15 April: no net effect
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