Article 62 - Mechanism for Output Tax Adjustment
Part 7: Calculation of the Due Tax
Chapter 4 - Adjustment of Tax after the Supply Date
Article 62 - Mechanism for Output Tax Adjustment [18]
The output tax shall be adjusted according to the following:
If the output Tax due for the supply exceeds the output Tax calculated by the Registrant, the Registrant shall issue a new Tax Invoice and shall calculate the additional amount of Payable Tax during the Tax Period during which such an increase was identified.
If the output Tax calculated by the Registrant exceeds the output Tax which should have been charged on the supply, the Registrant shall issue a Tax Credit Note according to the provisions of this Decree-Law [, not later than (14) fourteen days of the date on which any of the cases set out in Clause (1) of Article 61 hereof occurs] [G1].