Tax Invoices Checklist Template

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Tax Invoices Checklist
There is specific information that must be reflected on a tax invoice for it
to be considered valid.
Financial management in a business involves the management and recording
of the flow of money. This includes all money coming into the business
(income) and all money flowing out (expenditure). This checklist includes
basic elements for an organisation to work towards building good
management practices.
Checklist
1
Full Tax invoice
(R5 000 or more)
The words “TAX INVOICE” in a prominent place;
Name, address and VAT registration number of the
supplier;95
Name, address and VAT registration number of recipient;
Serial number and date of issue;
Full and proper description of the goods and/or services;
Quantity or volume of goods or services supplied;
Price & VAT
2
Abridged Tax invoice
(less than R5 000)
The words “TAX INVOICE” in a prominent place;
Name, address and VAT registration number of the supplier;
Serial number and date of issue;
A description of the goods and/or services;
Price & VAT
3
Tax Invoice
(less than R50, or not more than R500)
If the consideration in money for the supply is R50 or less, a
tax invoice is not required. But a document like a till slip or
sales docket indicating the VAT charged by the supplier will
be required to verify the input tax deducted.
Where the consideration for a taxable supply exceeds R50
but does not exceed R5 000, an abridged tax invoice may
be issued.
bizconnect.standardbank.co.za

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