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Your supplier forgot to include your Vat number on the tax invoice... Now what?

by , 13 May 2014
On Monday morning, your supplier delivers the goods you ordered and he gives you a tax invoice. A few days later while sorting your paper work out, you notice your Vat number isn't on the tax invoice. Read on to find out what you can do so you don't lose out on input tax claims.

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Errors in Vat invoices could cost you thousands!

Are there any inaccuracies in your Vat invoices? You may be charged a very high penalty!

Click here to find out how to make sure your Vat invoices are 100% legal.

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Here's what to do when your Vat number isn't on the tax invoice

If your supplier forgot to include your Vat number on the tax invoice, that invoice is incorrect or incomplete.

When you find yourself in this situation, you MUST return the incorrect or incomplete tax invoice to your supplier so he can correct it.

If he can't correct it, he must cancel it by issuing a credit note and make out a new tax invoice with all the correct details.

Not sure what a credit note is?

The Practical Vat Loose Leaf Service says 'a credit note is issued by the supplier after the tax invoice. It's an adjustment that will decrease the value of the goods supplied or the service delivered, for example if some goods are returned because they're faulty.'

If you're asking yourself 'why is it important to go to so much trouble to correct an incomplete tax invoice' the answer is simple…

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Think Vat doesn't apply to your payroll?

You're wrong!

Avoid this common error and keep SARS away from your door at audit time

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A tax invoice is the most important link in the Vat chain

If you get the tax invoice wrong, you won't be able to deduct input tax on your purchases.

To be on the safe side, check your tax invoices to ensure they're valid as soon as you get them. And if you find that your supplier forgot to include your Vat number, make sure he corrects the mistake.



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