As we all know that business issues an invoice to his customers for goods or services rendered. In this article, we will discuss the UAE VAT Tax Invoice format. UAE stands for the United Arab Emirates.
Earlier GCC countries were considered as tax heavens and this was the reason for their speedy nourishment. Almost all the big Fortune 500 companies or leading MNC have their offices in UAE.
The UAE was among the first GCC member states to publicly announce the introduction of the VAT. The UAE VAT Law will be introduced and implemented across UAE on 01 January 2018 at a rate of 5%.
To know more about the VAT you can visit the official website of Ministry of Finance – UAE www.mof.gov.ae
UAE VAT Tax Invoice Excel Template
We have created an excel template for UAE VAT Tax Invoice. You can easily issue the invoice to your customers with the help of this template.
Click here to Download UAE VAT Tax Invoice Excel Template As Per The Federal Law 8 of 2017 on VAT.
You can also download other UAE centric templates like UAE VAT Multiple Tax Invoice, UAE VAT Dual Currency Invoice, GCC VAT Invoice Template With Discount and UAE VAT Payable Calculator.
Content of UAE VAT Tax Invoice Template
This template consists of 2 worksheets. The first one is the Tax Invoice Template and the second one is the Database sheet for listing your customers.
The database sheet contains the list of the names of your customers. These customers are those whom we issue the invoices for the goods supplied or services rendered.
The Tax Invoice template contains the Performa of the Invoice.
Let’s discuss the template contents in detail.
It consists of 4 sections:
- Header
- Customer Details
- Product Details
- Other Details
1. Header
The header part contains the company logo, company name and heading of the invoice.
2. Customer Details
Then, there is the Customer details section. This section is connected with data validation and the VLOOKUP function to the database sheet.
Therefore, when you select the name of the customer it automatically updates the Address, phone, email, and customer id.
Once it is updated in the database sheet you can just easily click on the button and a drop-down list will appear.
On the right-hand side, enter the invoice number, invoice date, due date of payment which is set to 30 days from the date of invoice and your VAT Registration ID.
3. Product Details
The product details section contains columns like Description, Quantity, Unit Price and Amount. Simple mathematical computations are applied. Quantity X Unit Price = Amount.
Quantity X Unit Price = Amount.
Just below the product details section, there is the subtotal.
4. Other Details
Other details section consists of Amount in words, Terms & Conditions, VAT computations @ 5%, Company seal, signature box and “Thank you” greeting.
It will automatically compute the % with the Subtotal amount and sum up for the final total.
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