VAT Free Invoices – Factoring
Description:
VAT free invoicing is possible from transactions made with cards which Port1 has issued to you. This means that if you pay with those cards then the weekly invoice will be issued already without VAT. Port1 will pay the VAT and applies for the recovery later by itself from the tax-authorities.
How to get VAT free invoices
- Client sends application to vat@port1.ee together with the list of countries where VAT free invoices are requested.
- Port 1 will send back an agreement, authorisations and instructions of how to enable access to Port1 employees in tax authorities electronic systems.
- Client uses the cards which we mediate, this means that we have all the invoices which go to factoring.
- Country, where VAT free invoices are requested, the minimum VAT amount must exceed quarterly 400 EUR.
- VAT free system will be activated in a given country as agreed, usually in the beginning of quarter.
- Client has the possibility to send also other their invoices besides the ones which are going through factoring process, by the 20th day of the next month that comes after the ended quarter. Your own invoices which are not sent to us by that time, can be applied after the end of the calendar year.
NB! In every country, one company can only have one VAT recovery agent! When joining the system in any country then it’s not permitted to authorize any other entities for VAT recovery nor apply itself for VAT recovery.
Fee: as agreed
Time until VAT is refunded: Invoices already without VAT.
Issuing the invoice: on regular basis without the VAT of given country, service charge invoice issued monthly.
Additional information:
Kristi – 6799 518, vat@port1.ee
Katri – on maternity leave
Pille – 6799 506, vat@port1.ee
