(Incl. VAT) Tax invoice optional supplier Tax – all the information for (2) must issue within 21 days if Name, address, VAT reg. AND purchaser requires number of supplier name, address + VAT Date REGISRATION number of Serialized number RECEIPIENT Description of goods quantity and volume of (indicate if 2nd hand) or goods services supplied Value of supply + amount of tax (VAT) charged + consideration for supply OR Consideration and statement that VAT is included at 14% (or amount of VAT) ACCOUNTING BASIS INVOICE BASIS PAYMENTS BASIS Account for VAT on earlier of invoice or payment Account for VAT on payment IF: NB: ANY SUPPLY OF R100 000 (incl VAT) or Association not for gain / public authority more (excluding FIXED property) = use this basis OR Natural person AND TS < R2.5mil (12months) TIME AND VALUE OF SUPPLY
(Incl. VAT) Tax invoice optional – supplier must issue within 21 days if purchaser requires Tax Name, address, VAT reg. number of supplier Date Serialized number Description of goods (indicate if 2nd hand) or services supplied Value of supply + amount of tax (VAT) charged + consideration for supply OR Consideration and statement that VAT is included at 14% (or amount of VAT) all the information for (2) AND name, address + VAT REGISRATION number of RECEIPIENT quantity and volume of goods ACCOUNTING BASIS INVOICE BASIS PAYMENTS BASIS Account for VAT on earlier of invoice or payment NB: ANY SUPPLY OF R100 000 (incl VAT) or more (excluding FIXED property) = use this basis Account for VAT on payment IF: Association not for gain / public authority OR Natural person AND TS < R2.5mil (12months) TIME AND VALUE OF SUPPLY
VAT-Notes-1-Part-1-4.docx