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Issuance of Recipts/ VAT Invoices



Monday, September 1, 2014 11:32 AM - George's, Grenada
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ST. GEORGE’S, GRENADA, Tuesday, August 26, 2014: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 was 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 five hundred dollars ($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.




 

 


 

 

 

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