A tax invoice is a mandatory document that needs to be issued by sellers of goods and services in order to submit VAT.<\/p>\n\n\n\n
Failing in providing tax invoices in compliance with below described requirements may lead to the non-deductibility of expenses, resulting in adding back such expenses to the assessable income and increasing the company tax liability.<\/p>\n\n\n\n
| <\/td> | The wording \u201cTax Invoice\u201d in a prominent place.<\/td><\/tr> |
| <\/td> | The name, address, and tax identification number of the seller.<\/td><\/tr> |
| <\/td> | The name, address, and tax identification number of the customer.<\/td><\/tr> |
| <\/td> | The mention \u201cHead Office\u201d or \u201cBranch\u201d number for both the seller & customer.<\/td><\/tr> |
| <\/td> | The tax invoice issue date.<\/td><\/tr> |
| <\/td> | The tax invoice serial number.<\/td><\/tr> |
| <\/td> | The description, quantity, unit price and total value of goods or services.<\/td><\/tr> |
| <\/td> | The amount of VAT charged on goods or services.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\nA \u201cregular\u201d invoice is issued to request the payment of goods and services; a tax invoice is then issued upon the delivery of goods or receipt of payment. The tax invoice date becomes the tax point for VAT purpose.<\/h5>\n\n\n\n |