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Thread: Invoicing

  1. #1
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    Invoicing

    Morning,

    Can one do a tax invoice without vat to a client in south Africa whilst being a vat vendor?

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    Platinum Member Neville Bailey's Avatar
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    My understanding is that, if you are registered for VAT, you are obliged to issue all your invoices with VAT.
    Neville Bailey - Pastel Accounting Consultant and Photographer
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    Hi, thanks appreciated.
    Would this mean that for example, I purchased milk through one company then our sister company takes half. I then have to do an intercompany invoice for staff welfare do I include VAT?

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    Platinum Member Neville Bailey's Avatar
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    Yes, although the sister company might not be able to claim the VAT in the example you have given, as I think staff welfare related purchases are not VAT claimable.
    Neville Bailey - Pastel Accounting Consultant and Photographer
    neville@accountingsoftwaresupport.co.za
    www.accountingsoftwaresupport.co.za
    View Neville Bailey Photography

    "Give every person more in use value than you take from them in cash value."
    WALLACE WATTLES (1860-1911)

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    Thanks a million

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    Also, milk is zero rated

    But Neville is right also about the staff thing, it is like entertainment

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    Diamond Member AndyD's Avatar
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    Hi JPWilliams, good to see you back again.
    I closed the other identical thread you made to avoid confusion.
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    Site Caretaker Dave A's Avatar
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    If it's an inter-group-company invoice, and you don't normally invoice for zero-rated goods, I suggest you just raise an admin fee invoice with VAT. It's way less complicated, and easier to identify the related company transactions too when it comes to annual financial reporting time.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Blurock's Avatar
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    When invoicing, some businesses seem to be lax in displaying the correct registered company/cc name.

    I have come across invoices where only the trading name is used and not the full registered name e.g. Tommy's Tom Toms instead of XYZ cc T/a Tommy's Tom Toms. Maybe our accounting friends can help us out to confirm the required standard and where to get the info.

    Guidelines from SARS

    The words “TAX INVOICE” in a prominent place;
    o Name, address and VAT registration number of the supplier;
    o Name, address and VAT registration number of recipient*;
    o Serial number and date of issue;
    o Full and proper description of the goods and/or services;
    o Quantity or volume of goods or services supplied;
    o Price & VAT
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    Neville you said if you are registered for VAT, you are obliged to issue all your invoices with VAT but have a situation where the company was issuing invoices without VAT, how do i deal with that?

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