Reminder To Issue VAT Receipts/Invoices

The Inland Revenue Division of the Ministry of Finance will like to remind VAT Registrants of their obligations under the Value Added Tax Act 2009, to issue VAT sales receipts/invoices to every customer to whom a sale is made.

A VAT invoice/Sales receipt must contain the following information as prescribed by the Act;

•           The name, address, and TIN of the supplier

•           The serial number of the VAT invoice/ receipt and the date on which it was issued

•           A description of the goods and services supplied, including the quantity, volume or period where applicable

•           The total value of the supply (including VAT)

•           The amount of VAT charged

•           The name, address, and TIN of the recipient where applicable

VAT registrants who fail to adhere to the requirements by law to issue receipts/invoices will be fined a fixed penalty of $500. The division is urging the general public and taxpayers to request their receipts when making purchases and contact the Inland Revenue Division for any further clarification.

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