Credit note timing after the 2025 change

The situation

Credit and debit notes must be issued within 15 days from the end of the month in which the event happened.

The law

• VAT Implementing Regulations as amended April 2025, credit and debit notes: Credit and debit notes are issued within 15 days from the end of the month of the triggering event

What it means for you

Example: goods returned on 10 June: issue the credit note by 15 July. Late notes risk your output VAT adjustment being denied. Use your e-invoicing system so the note links to the original invoice.

What to do

1. Record the return date.
2. Issue the note by the 15th of next month.
3. Report it in the return.

Related

• Late VAT payment penalty calculation
• Nil VAT return
• Unpaid supplier invoice after 12 months
• Transferring the business and VAT
• Input VAT on staff entertainment and hotels
• VAT return due date and payment