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Overview of country specific accounting and VAT/Tax legislation

Accounting Requirements

Other Requirements:
  • Official currency rate to be used for transactions

VAT/Tax Requirements

Applicable Types
  • VAT (IVA)
  • Import VAT
VAT/Tax Books:
  • Electronic listing of Tax Invoices (GUI)
  • Electronic listing of zero taxable sales invoices
VAT/Tax Documents:
  • Government Invoice templates (GUI)
  • Special Templates for Credit Memos (GUI)
Other Requirements:
  • Rules about Invoice Numbering and sequences
  • Separate VAT accounting for Credit Memos
  • Official Transaction / GUI types

Usual Business Requirements

  • Future dated checks


Requirements that exist in most countries, e.g. documentation of transactions, Annual Accounts or periodic reporting of VAT totals, are NOT listed above if no specific legislation exists about format or content.


DISLAIMER: No responsibility is taken of the correctness of above information. The specific accounting and VAT/Tax requirements for a company should always be confirmed with local auditors. The listed issues may not be applicable for all types of companies as well as additional issues may exist depending on the specific type of business.