Why does an invoice matter and what does it contain?

An invoice (in Uzbekistan, the electronic VAT invoice, "hisob-faktura") is not just a "receipt". It confirms the transaction between seller and buyer and is the key document of the VAT chain.

Why is an invoice needed?

It confirms that goods or services were sold and at what price
On the basis of this document, the buyer credits the VAT it has paid
The tax authority can see every transaction in the chain
If a dispute arises, it is the main evidence of the transaction

What information does it carry?

An invoice should let anyone fully identify the transaction: who sold to whom (with both parties' TIN, taxpayer identification number), when and what was sold, in what quantity and at what price, and, for a VAT payer, the VAT as well. This is not a complete list of requisites: when filling in the document, check the mandatory details against the current tax rules and the requirements of the electronic invoice system.

What do you lose if there is an error?

If the TIN is entered incorrectly or the document is not issued on time, the buyer may be unable to credit the VAT. That means a direct loss of money.

A small tip

At the end of each month, reconcile incoming and outgoing invoices with your accounting records. The earlier an error is found, the easier it is to fix.

Test yourself

5 questions on this topic: pick an option or reveal the answer.

Lola kafe chose the 6% simplified VAT procedure introduced by Decree PF-100. What happens to the VAT shown by the supplier in the invoice for purchased products (input VAT)?

"Ohangaron plitka" shipped tiles to a buyer on 28 October, issued the invoice on 3 November, and the buyer transferred the money on 10 November. Under Article 242 of the Tax Code, on what date is the turnover from the sale of the goods deemed to take place for VAT purposes?

"Anhor shisha" LLC delivered glass containers to a buyer and issued an invoice. The parties then agreed to change the price of the delivered goods. Under Article 47 of the Tax Code, what must the seller do?

Goods were received from a supplier. Under NAS No. 21, how is the VAT amount shown on the invoice recorded?

"Yangiyer qog'oz" LLC (a VAT payer) bought raw materials for production. Under Article 266, part 1, clause 2 of the Tax Code, what condition must be met for the input VAT on the purchase to be offset?

Answered: 0 / 50 of 5 correct

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