P. 1
What is a VAT Invoice

What is a VAT Invoice

Views: 18|Likes:
Published by korikonglibat

More info:

Published by: korikonglibat on Dec 08, 2010
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as DOCX, PDF, TXT or read online from Scribd
See more
See less





What is a VAT Invoice?

Perhaps one of the most complicated financial systems to understand in the world, is the taxation system of a country. As time goes on, the government comes up with more and more complex tax laws and spins an intricate tax web, to ensure that revenue stream keeps flowing unabated. Businesses need to create sales invoices with details of taxes involved, as they must ultimately be accountable to the government, when they open up their balance sheets. One such type of invoice is a VAT invoice. In this article, I explain what is a VAT invoice and what all details need to be included therein, if the trade is conducted in European countries.

What is VAT?
Before you understand what is a VAT invoice, you need to understand what is VAT. VAT is an acronym for 'Value Added Tax'. It is a bit complicated form of tax imposed mainly by countries in the European Union and Asian countries like India. Firstly, this is a form of consumption tax. That is, it is a form of tax imposed on consumption of many types of goods and services, which the end consumer must pay, as part of the end price. As the name suggests, it is a tax that is imposed on the added value to a product or service, which is recovered at every stage of the sale and distribution chain, by the government. It is actually a form of sales tax, where instead of a direct imposition of tax on the end consumer, it is charged on every transaction that occurs in between. Let us now see what is a VAT invoice and what all details need to be included in them.

What is a VAT Invoice Like?
Any supplier of goods or services in a European Union country must provide a VAT invoice or VAT bill when making a sale. The VAT charged in every sale is added to the sales price of the product or service. After a seller recovers VAT amount from a buyer, the government recovers it from the seller. To know how much is the VAT liability of a business, it is necessary that they maintain VAT invoices related to every sale. The VAT related rules and requisite invoice details may vary for every country. However, there are certain details which are almost same for all. So there is no single VAT invoice definition. In the following lines, I present the details that necessarily need to be added to a VAT invoice. Check out VAT invoice samples of goods, that you might have purchased, to know what they look like. Check out some of the invoice templates for more information. First and foremost, you need to have a unique invoice number for each VAT invoice that you generate. I

particulars of products or services sold. In short. One thing to be noted is that if you are a seller of items that do not come under the VAT net. this article has eliminated any doubts about what is a VAT invoice and why is it important that it be created during sale of any VAT related items. VAT registration number. As discussed before. I hope. you already have an idea about how to write an invoice and the required details. For example of a VAT invoice. you need not issue any VAT invoices. selling price with VAT and the date of sale need to be included in the tax invoice. The name of the selling firm. the VAT rate imposed. rummage through the bunch of invoices that you might have received from purchase of electronics items as they usually come under the VAT tax net.hope. when it comes to selling goods in the countries of the European Union. VAT invoice an inescapable piece of paperwork. . it is compulsory for the business itself. its address. that they recover the VAT from the customer and specify it in an invoice. accounting on the part of the business becomes simpler and the management can save itself from any of the penalties imposed. That way.

The leasing agents need to understand the requirements of the lessees and help them find the suitable rental properties. In return of these services they charge money from clients who approach them with their property needs. So. The more the number of deals executed by him successfully. or expensive ones. as he needs to find suitable lessees for property owners. Apart from these services. They conduct checks on people which helps them to arrive at conclusions on who would be the right client for the property. The average salary of leasing agent depends on various factors. The leasing agents who help give prime properties. after working in a firm for few years. This requires them to travel in different parts of the city and also outside the city in search of potential clients. the more would be his total income. think of setting up their own property consulting business. knowledge of real estate marketing along with the latest happenings in the real estate field are some qualities which are a must for a leasing agent. Job Description of a Leasing Agent A leasing agent should have connections in the real estate market. the leasing agents also check whether the lessees do not have a criminal past record and help property owners get the right people. Most leasing agents. interpersonal skills. on . Let us discuss them one after the other in the next section. So there is no upper limit as such for the income of a leasing agent. Leasing agents help property owners get the best amount and use their experience in the field to get high net worth clients. They are professionals who help to fix deals between homeowners or landowners and the people wishing to take up the properties on lease. Leasing agents also play an important role in completing the paper work and legal formalities related to the deal. Leasing agents either work as independent professionals or work in a private firm. there are several aspects of the leasing agent job description which we should know. They need to discus with them about their budget and kind of property they wish to avail on lease. The growing leasing agent salary reveals the growing demand for these professionals. ability to convince people. let us discuss more about the leasing agent salary in the next section. Lessees need properties for a long lease at affordable payment options and they too. Salaries for Leasing Agents The leasing agent salary largely depends on his experience and contacts. Good communication skills. Apart from this.Leasing Agent Salary Leasing agents perform a an important task in the real estate market. approach leasing agents for getting the desired properties fast.

2. Good luck! .000 per year. The leasing agents working as independent processionals will have to struggle a lot in their career. Many of them get paid on an hourly basis and the hourly payment rates for them can be between $10. However. think over this career option and opt for it if you like the work. perks and overtime benefits. You should be also aware of the real estate agent salary as it can be an alternative career too. The average leasing agent salary is believed to be around $47. There is a big difference in the leasing agent salary in top metropolitan cities and rural areas.1 to $13. Apart from the normal fixed salary. with the passage of time.lease for rich clients will be earning more money than those who deal smaller properties. this article on leasing agent salary and job description of a leasing agent will help you to know this profession well. they will be able to get good clients and earn more money. the leasing agents can also earn attractive bonuses. So. Hopefully.

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->