Section 20: VAT invoice

20. VAT invoice (1) Every registered person who makes a taxable supply to any person shall issue to that person a VAT invoice in respect of that supply. (2) A registered person who issues a VAT invoice under subsection (1) shall specify in the invoice— (a) the words “VAT INVOICE” in a prominent place; (b) his name, business address, VAT Registration Number and business registration number; (c) its serial number and date of issue; (d) the quantity and description of the goods or the description of the services; (e) the value of the supply, indicating whether the value is subject to VAT or not; (f) where the value of the supply is subject to VAT— (i) the value of the supply; (ii) the amount of VAT chargeable and the rate applied; (g) where the purchaser is a registered person, the name, business address, business registration number and the VAT Registration Number of the purchaser. (3) Every person who issues a VAT invoice under this section shall keep legible copies thereof, either electronically or otherwise, in chronological order. (4) Every copy of a VAT invoice under this section shall be kept for a period of at least 5 years after the completion of the transaction to which it relates. (5) No person shall issue a VAT invoice or any other document indicating an amount which purports to be VAT on the supply of any goods or services unless— (a) he is a registered person; and (b) the supply is a taxable supply. (6) — (7) This section shall not apply to the business specified in item 6 (b) (ii) of the Fifth Schedule and items 1 and 4 of Part II of the Tenth Schedule. [S. 20 amended by s. 31 (i) of Act 20 of 2002 w.e.f. 10 January 2003; s. 19 (d) of Act 18 of 2003 w.e.f. 21 July 2003; s. 19 (c) of Act 10 of 2010 w.e.f. 24 December 2010; s. 19 (b) of Act 37 of 2011 w.e.f. 1 October 2012; s. 29 (f) of Act 26 of 2012 w.e.f. 22 December 2012; s. 30 (c) of Act 26 of 2013 w.e.f. 21 December 2013; s. 53 (c) of Act 9 of 2015 w.e.f. 1 July 2015.] V4 – 17 [Issue 10] Value Added Tax Act PART VA – ELECTRONIC FISCAL DEVICE