Latest / STR Unpacked / Exempt Doesn't Mean Excluded
Transcript
- Ben: Good morning and welcome to your Talk to Mental Bulletin on the 2nd of September. So we're over in France today. France has changed the rules on your invoices as of yesterday, and being exempt from VAT does not get you out of it. So the e invoicing reform took effect on the 1st of September. Every business established in France that counts as a taxable person. must now be able to receive electronic invoices through a state-approved platform, whatever its size or tax regime. So the exemption is where I think property owners could get caught here. So ordinary furnished lettings is exempt from VAT and you cannot opt out of that exemption. But it attaches to the supply, not to your status. So the reception duty applies even though you have nothing to issue. Rent receipts are not invoices. Provide at least three of the four hotel style services, so that being breakfast, regular cleaning, household linen, and the reception, and the letting stops being Excempt which brings issue and data reporting from September 27 for smaller businesses. An email PDF still works as an invoice, but it has just stopped being a compliant way to send one. There is no automatic fine today either. The tax administration serves notice first, then five hundred euros, then after three months, then a thousand euros after a second notice, repeating every quarter until you appoint a platform. Spain gave us the other half of the picture. On Monday, the INE's July figures put overnight stays in tourist apartments exactly flat year on year, with an average stay down seven point three percent and prices up six point two. Volume has stopped growing, but the paperwork has not. Compliance calendars do not wait for your revenue to recover, so do keep that in mind. That is your Wednesday bulletin. Thank you so much for watching, and I'll see you tomorrow.