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Tax Invoice
As per the VAT law, tax invoices are
to be issued in relation to the supply of taxable goods or services including a
deemed supply and in case where there is either full or partial receipt of
consideration prior to supply.
What data must be included in a Tax Invoice? (Art 59 of the regulations)
- A clear display of the word “tax invoice”.
- Name, Address, TRN of the registrant making the supply.
- Name, Address, TRN of the recipient if the recipient is VAT registered.
- A sequential, number based on one or more series which uniquely identifies the document invoice number
- The date when this tax invoice is issued
- Description of goods or services
- The invoice must also for each description of goods or services on that invoice show the unit price, the quantity of volume supplied, the rate of tax and the amount payable expressed in AED.
- Any discount offered
- Gross amount payable in AED
- The tax amount payable expressed in AED
Simplified Tax Invoice
A Simplified Tax Invoice may be issued where a recipient of goods or services is not registered or where the recipient of goods or services is registered but the consideration for the supply does not exceed AED 10000.
In such cases a simplifies tax invoice may be issued showing the following Act 59(2)(5) of the regulation:
- The word tax invoice should be clearly displayed on the invoice.
- The supplier name, address and tax registration number
- The date when the tax invoice is issued
- There must also be a description sufficient to the identity of the goods or services supplied.
- The total consideration and the tax amount charged.
Electronic Tax Invoice
The conditions and procedures to issue electronic tax invoices are:
- Taxable person is capable of securely storing a copy.
- The authenticity of origin and integrity of content is guaranteed.
Best Corporate Tax Service In Abu Dhabi, UAE
