Transaction Details

• Date of transaction

• Quantity of item

• Description of the item or nature of services rendered

• Unit cost

• Total cost

• VAT Amount

• Tax Summary breakdown for mixed transactions:

  • VATable Sales

  • VAT Amount

  • VAT Exempt Sales

  • Zero-Rated Sales

  Note:

  Tax Summary no longer appears in collection receipts or official receipts because invoices are now the basis of output tax liability for sellers and input tax claims for buyers.

  Consequently, Tax Summary no longer appears in sales invoices with single type VAT transactions. Single type VAT transactions refer to transactions with line-items that are purely zero-rated or VAT-exempted.

• Transaction Total Summary breakdown for mixed transactions:

  • Less: VAT

  • Amount: Net of VAT

  • Add: VAT

  Note:

  The system labels VAT-exempt invoices as 'Total VAT-Exempt Sales' for single type VAT transactions.

• Sales breakdown for non-VAT mixed transactions:

  • Exempt Sales

  • Sales Subject to Percentage Tax

Related Topics

• Philippines Invoicing
• BIR-Required Details
• Document Information
• Seller and Buyer Information
• Footer Details
• Discount Details

General Notices