Credit notes

What information is required on a VAT credit note?

The Value-Added Tax (VAT) credit note must show:

  • the date of issue
  • a unique number
  • the supplier’s full name, address and VAT registration number
  • the customer’s full name, address and VAT registration number
  • in the case of an intra-Community supply, the customer’s VAT identification number in the other Member State
  • the reason why the note is being issued
  • a cross-reference to the original invoice
  • the amended consideration
  • the rate or rates of tax in force when the related invoice was issued
  • the amount of tax at each rate.

Foreign currency on a VAT invoice

If your credit note contains a foreign currency, it must contain the corresponding figures in euro.

You should use the selling rate recorded by the Central Bank at the time when the invoice is due to be issued.

It is possible, by agreement with Revenue, to use an alternative method of determining the exchange rate, subject to the condition that the agreed method must be used in respect of all your foreign currency transactions.

You should apply to your local Revenue district indicating the exchange rate method they propose to use.

Next: What is a debit note?