Invoice vs Tax Invoice
What’s the difference?
Tax invoices: boy, is there a lot of confusion regarding these little beauties! Everybody, it would seem, has their own idea of what a Tax invoice is and information a Tax Invoice should contain and unfortunately the majority of them are wrong!
Invoice vs Tax Invoice – What’s the difference?
Put very simply, an invoice is a document issued by a business that is not a vendor for VAT and a Tax Invoice is a document issued by a business that is a vendor for VAT.
Tax Invoice – Abridged of Full?
Where the value of the invoice is below R5000.00 you may use an abridged Tax invoice, which is less formal and only contains limited information. We however always recommend that you use the Full Tax invoice (see sample below with requirements highlighted) as it is a good habit to get as much information on your client as possible when invoicing.
Herewith an example of a TAX Invoice
At SME.TAX we do more than just assist clients with their provisional taxes.
We are your “one stop SME shop”, assisting with everything from Accounting, Business Management, BEE, Consulting, Company Registration to Payroll and Mentoring.
For more information, please visit our website www.sme.tax or give us a call on 072 207 4789