The 2012 worldwide VAT, GST and sales tax guide

F RANCE 237
the VAT amount charged and reclaimed on a supply. The VAT
amount credited must be separately itemized and it must be
cross-referenced to the original VAT invoice.
Proof of exports and intra-Community supplies. French VAT is not
chargeable on supplies of exported goods or on intra-Community
supplies of goods (see the chapter on the EU, page 208). However,
to qualify as VAT-free, exports and intra-Community supplies
must be supported by evidence indicating that the goods
have left France. Acceptable proof includes the following documentation:
• For an export, a copy of the export document, officially validated
by customs and showing the supplier as the exporter.
Other acceptable proof of export may be provided. The sales
invoice must include the following statement in French:
“ Exonération de TVA—art. 262 I du Code Général des Impôts .”
• For an intra-Community supply, the supplier must include the
purchaser’s EU VAT identification number on the sales invoice
and the following statement in French: “ Exonération de TVA—
art. 262 ter-I du Code Général des Impôts .” The supplier must
also retain commercial documentation (for example, purchase
orders, transport documentation, proof of payment and a copy
of the customer’s invoice stamped for receipt of the goods).
Foreign-currency invoices. If a French VAT invoice is issued in a
foreign currency, the VAT amount to be paid must be converted
to euros using the rate published by the French Central Bank for
the date of the supply. For intra-Community transactions, the
customs rate (published monthly) may be used. If a taxable person
chooses to use the customs rate, such rate must be used for
all intra-Community trade, for at least one calendar year for both
VAT returns and INTRASTAT returns (see Section J).
I. VAT returns and payment
VAT returns. Taxable persons with a turnover greater than
€230,000, exclusive of tax, must submit returns and pay return
liabilities electronically. Taxable persons with a lower amount of
turnover may opt to file and pay electronically. A taxable person
must submit an application to the French VAT authorities before
submitting electronic returns. Return liabilities must be paid in
euros.
For French companies, monthly VAT returns and payment are due
between the 15th and the 24th day of the month following the end
of the return period. The due date depends on several factors
including the type of legal entity involved and where the taxable
person is established.
For foreign entities, monthly or quarterly VAT returns are due on
the 19th day of the month following the end of the return period.
Penalties. The following penalties are assessed for errors associated
with electronic filing:
• Failure to declare VAT by electronic means (even if the return
is submitted on paper by the due date): 0.2% of the VAT due
• Failure to pay VAT by electronic means (including payment
made by the due date, but not made electronically): 0.2% of the
VAT due