Invoicing Requirement:  The Guyana Revenue Authority (GRA) wishes to remind businesses that the December 14, Amendments made to the VAT law have simplified provisions relating to invoices.
Businesses are reminded that they are not required to seek the approval of the Commissioner       General of the GRA to print and use invoices.

In keeping with Section 10 of the VAT Act however, businesses need to ensure that invoices which contain particulars of goods and services, which are exempt or zero-rated along with taxable supplies, show such goods and services separately on the invoice, along with a separate total for such goods and services.”

In accordance with Schedule Three of the VAT Act Tax Invoices must contain the following:

The word ‘tax invoice’ in a prominent place
The name, address and VAT registration number of the registered person making the supply.
In the case of a registered person, the name and address of the buyer.
      4.   The individualised serial number and the date on which the tax invoice is issued
      5.   A description of the goods or services supplied.
      6.   The quantity or volume of the goods or services supplied
      7.  The total amount of the tax charged, the consideration for the supply,
           and the consideration including tax.

   In the case of Sales Invoice, the following are required:

    1.  The name, address, and VAT registration number of the
          registered person making the supply

    2.  A description sufficient to identify the goods supplied
         or services  rendered

    3.  The price of the supply

    4.  The amount of VAT if separately stated

    5.  The issue date of the sales invoice

Please be reminded that a tax invoice is required for supply of value exceeding $10, 000 and for all transactions between registered persons while a sales invoice could be used for supplies valuing less than $10,000.