After a taxpayer has issued a VAT invoice, if there is then any return of sales, any discount, any error in the invoice or any other similar circumstances, the taxpayer must issue a 'red-letter' VAT invoice, approved by the tax authority.
The information that must be included on the red-letter invoice is almost the same as for the original VAT invoice; the difference is that a negative amount is shown to offset the sales amount.
If the taxpayer fails to issue the red-letter VAT invoice, the appropriate VAT must not be deducted from
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 15:40