VAT Invoices and Why It is Important


VAT is vital to your business as it is crucial to the government for its revenue generation. VAT invoices help you determine the amount of VAT your company is liable to pay. When the VAT system is handled well, you can get a tax refund and be able also to claim credit for VAT Payments.

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Free Invoice Templates

This is a free vat invoice template. Download right now and get started with your invoice creation.

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To make curating your VAT easy and straightforward, there many free invoice template providers online with the best being uptocareer.com. The website has hundreds of free invoicing template which you can download for free and use for your business transactions. It is easy to search for the desired invoice template and download them.


What is a VAT Invoice?


A VAT (Value Added Tax) invoice is defined as a document given by an accountable individual stating the details of a taxable supply and required information as indicated by the VAT laws. It must be issued within fifteen days after the end of the month in which goods and services were sold. The importance of the VAT invoice covers establishing your VAT liability and helping your registered VAT customers to reclaim the VAT charge to them.


What to Include in your VAT Invoice


Value Added Tax is usually charged on sales made, and they are not the same as other types of invoices. Below are the necessary information contained in a VAT invoice.

Also, you also need to give a breakdown of the goods and services outlined in the invoice. This include:

The price of the products and services excluding VAT.

  • The quantity of the goods supplied or a description of the services rendered.
  • The VAT rate that applies to the products and services.
  • The total payable amount excluding the invoice.
  • Cash discount amount if applicable.
  • The overall percentage of VAT charged.
  • When there is an early payment before the goods were supplied, include the date on which the payment was made if it is different.

  • Home > Invoice Tips > What is VAT Invoice and Why VAT Invoices is Important

    Wondershare Editor

    Posted by to Invoice Tips

    Published Nov 29,2018 21:29 pm / Updated Dec 26,2018 22:34 pm

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