A key feature of the invoice-credit form of value-added tax (VAT) is that some businesses- notably exporters-will pay more tax on their purchases than is due on their sales, and so can seek refunds of ...

should issue VAT invoices for every sale, barter or exchange of goods or services or lease of properties. Under Revenue Regulation (RR) 7-2024, the implementing regulations for the law, VAT invoices ...

The simple answer is that the invoice is not just a commercial document, it is also the key document for VAT, which is very much a government concern. With the best of intentions, the European ...