Glossary
Glossary
Validation Artefact
Last modified on: 31/08/2022 22:48is a tool which allows its users to easily validate whether invoices comply with a standards specification.
Validation or Verification
Last modified on: 31/08/2022 22:48is a process carried out by an e-invoice receiver or a service provider on its behalf to ensure that an e-invoice, inter alia, is compliant with its business and technical requirements and with the transaction undertaken.
VAN
Last modified on: 31/08/2022 22:48is a Value-added Network offering services to customers.
VAT
Last modified on: 31/08/2022 22:49is a value added tax on goods and services within the European Union (EU). The EU’s institutions do not collect the tax, but EU Member States are each required to adopt a value added tax that complies with the EU VAT code. EU VAT (known as “output VAT”, that is, VAT on its output supplies) is charged by a business and paid by its customers. VAT that is paid by a business to other businesses on the supplies that it receives is known as “input VAT” (that is, VAT on its input supplies). A business is generally able to recover input VAT to the extent that the input VAT is attributable to (that is, used to make) its taxable outputs. Input VAT is recovered by offsetting it against the output VAT for which the business is required to account to the government, or, if there is an excess, by claiming a repayment from the government. The final consumer does not receive a credit for the VAT paid. The net effect of this is that each supplier in the chain remits tax on the value added, and ultimately the tax is paid by the end consumer.
VeR
Last modified on: 31/08/2022 22:49is the e-Invoicing Alliance of Germany- Verband e-Rechnung
Virtual Card Payments
Last modified on: 31/08/2022 22:49Virtual credit cards are online cards that are not physically issued by the credit card provider. It is usually a free service provided by the original card issuer to their customers who want to perform an online payment with the help of their credit cards. Virtual credit cards include a one-time-use credit card number created by the respective credit card provider. Virtual credit card numbers can be used only once and may expire within a month if not used. This helps protect the customer from becoming a victim of online credit card fraud.
Visualization
Last modified on: 31/08/2022 22:49is the provision or rendering of a humanly readable version of an e-invoice as a companion to a structured e-invoice. It may be rendered by any involved party at any stage in the process. It is a requirement of the VAT Directive 2010/45/EC that an invoice be humanly readable.