Tax invoices are very important in Value added tax. However, not all receipts are tax invoices. A tax invoice is a legal document that a seller submits to a customer in which the tax is included. A registered operator who supplies taxable goods/services is required to issue the recipient with a tax invoice/fiscal tax invoice within 30 days from the date of such supply.
- The words ‘Tax Invoice’ or ‘Fiscal Tax Invoice’ should be in a prominent place
- Name, address & VAT Reg No. of the supplier
- Name & address of the recipient &, if recipient is a registered operator, the VAT Reg No. of the recipient Serialized number & date on which the invoice is issued
- Description of the goods or services supplied
- Quantity/volume of the goods or services supplied
- Value of supply, price charged or consideration of the supply
- Any other words/phrases used under the fiscal recording regulations denoting an invoice used to account for taxable supplies