Article 54 - Credit and debit notes

1) In the event that one of the circumstances in the first paragraph of article forty of these Regulations occurs after a Tax Invoice has been issued in respect of a Supply, and the amount shown as Tax charged in that Tax Invoice exceeds the true value of the Supply, the Taxable Person who has made the Supply shall provide the Customer with a credit note.

2) In the event that one of the circumstances in the first paragraph of article forty of these Regulations occurs after a Tax Invoice has been issued in respect of a Supply, and the amount shown as Tax charged in that Tax Invoice is less than the true value of the Supply, the Taxable Person who has made the Supply shall provide the Customer with a debit note.

3) A credit note or debit note issued in accordance  with this article  must contain a reference to the sequential number of the Tax Invoice issued in respect of the initial Supply to which the credit note or debit note relates.

Such credit note or debit note shall include the information required by article fifty- three of these Regulations to be shown on the Tax Invoice.

4) A credit note or debit note should otherwise contain the discount information required by article fifty-three of these Regulations to be shown on the corresponding Tax Invoice.