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.