signature of the supplier;
name and identification of the supplier and the recipient;
statistical identification of the supplier and the recipient;
Tax Identification Number of the supplier and the recipient;
quantity, unit price and total price of the goods or the services;
due date for the payment of the invoice; and
manner of payment.
Credit notes and debit notes
Credit notes and debit notes are not ruled under the tax legislation but result from accounting practice. These credit notes and debit notes are assimilated by the Tax Administration as invoices, invoice cancellations or disbursements, depending on the nature of the operation concerned. A disbursement re-invoiced at real cost is not subject to VAT.
Additional export documentation
Exportation must be substantiated by the following documents:
commitment to repatriate foreign currency (‘engagement de rapatriement de devises’); and
evidence of shipping or air transportation (‘attestation d’embarquement’).
All evidence, commercial, tax and accounting documentation should be kept at the company head office or at the company’s main establishment in the case of a branch. The taxpayer should be able to provide the originals in the case of an audit.
Documentation must be retained for five years. Electronic files and scanned copies cannot be submitted to the Tax Administration.
Specific VAT rules
There is no special VAT provision in the tax legislation regarding bad debts. Therefore, the general rule is applicable:
transactions involving goods: VAT is due at the time of delivery of the goods independent of the debt situation; and
transactions involving services: VAT is due at the time of payment for the service. If no payment is made, no liability for VAT arises.
Land and buildings
There is no special provision regarding land and buildings. Land and buildings transactions (rent or sale) are subject to VAT as long as they are performed by VAT taxpayers (a legal company or professional individual). Land and buildings transactions by nonprofessional individuals are not subject to VAT.
No special provisions apply. In any case, VAT output tax cannot be less than VAT applicable on the goods’ net book value.
Small retailer scheme
Any business having an annual turnover of less that 200 million Ariary may also collect VAT after prior authorisation from the Minister of Finance, provided that their accounting is certified by an auditor.
No special rules apply. The general rule is applicable, with the exception that the Tax Administration accepts the calculation of VAT output tax on the company margin per operation.
Transfer of a business
Transfer of a business by cession of assets is subject to VAT. Transfer of a business by cession of shares is not subject to VAT. Transfer of a business by merging or assimilating an operation is not subject to VAT.
No special rules apply. Goods imported and services rendered to foreign companies are subject to VAT. The importation of goods for the purpose of identical exchange is not subject to VAT. The importation of goods after exportation for repair is not subject to VAT.
Other indirect taxes
Import duty is applicable on the importation of goods. The rates vary from 0% to 30%.
Excise duty is applicable on the collection, extraction, fabrication, preparation or importation of goods and services as provided each year by the Tax Law, on, for example, wine, beer, other fermented drinks, alcohol, whisky and rum, tobacco, cigarettes and cigars, and telephone communication.
The rates vary from 7% to 180%.