It's simple. If you cancel a tax invoice, you have to issue a credit note.
You also have to claim back the VAT.
If you don't you will probably underpay your VAT and miss out on input tax deductions.
Let's have a look at what must legally be on your credit notes and the consequences you will face if you don't get it right.
But, before I cover that, let's look at why you must issue 'lega... ››› more
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