Download VAT Invoice Template in Excel and Spreadsheet. This excel template complies with Gulf Cooperation Council (GCC) Value Added Tax (VAT) Treaty. As per the treaty, you can issue VAT invoice for 6 GCC Countries; Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE easily and efficiently using template.
About Gulf Cooperation Council (GCC) Value Added Tax (VAT) Treaty
The Gulf Cooperation Council (GCC) Value Added Tax (VAT) Treaty (the treaty) is a landmark document for the Gulf region. It sets out the framework of a VAT system between the six GCC countries – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
The VAT is value added tax by entering into this agreement the GCC countries started imposing VAT at a rate of 5 per cent on some goods and services. Health and education are exempted from the VAT. Now people in the GCC need to pay a VAT of 5 % per cent on food, cars and other entertainments.
Businesses operating in GCC countries have to prepare for compliance with GCC VAT Law 2018.
This ready to use VAT Invoice Template in Excel is helpful in many ways to comply with GCC VAT Law. The user needs to select his country and can start issuing VAT compliance invoices to their customers.
About this VAT Invoice Excel Template
Before proceeding to template contents, you need to ensure that you select your country from the box given beside the template. When you select the country, it will automatically change the currency in all the cells of template. This template consists of 2 worksheets.
- VAT Invoice Template
- Database Sheet
Database sheet contains list of names of your customers. This list is use for creating the drop-down list in customer details section of VAT Invoice Template. You will have to update the Database sheet.
The invoice Template consists of 4 sections:
- Header Section
- Customer Details Section
- Product Details Section
- Other Details Section
1. Header Section
Header section contains the company logo, company name and heading of the invoice ” Tax Invoice”.
2. Customer Details Section
- However, Customer Detail section programmed and referenced to database sheet with data validation and VLOOKUP function.
- You can select the name of the customer from the drop-down list.
- So, When you select the customer names, the template automatically updates other details of customers in the relevant cell.
- Moreover, These details include address, phone, email and customer id.
- On the right-hand side you need to enter invoice number, invoice date. The due date for payment which is set to 30 days from date of invoice will appear automatically. Then comes your VAT Registration Number.
3. Product Details Sections
- Product details section consists of columns of Description, Quantity, Unit Price and Amount.
- The formulas use are simple mathematical computations.
Quantity X Unit Price = Amount.
- At the end, the subtotal line is given.
4. Other Details Section
- Moreover, other details section consists of Amount in words, Terms & Conditions, VAT computations @ 5%.
- In addition to this are given space for Company seal, signature box and “Thank you” message business greeting.
- Moreover, It automatically computes the 5% VAT of the invoice amount and sums up the final total.
Download and use GCC VAT Invoice excel template
To use this free GCC VAT INVOICE excel template, you should have Microsoft Office/ Microsoft Excel installed in your system.
After installing Excel or Spreadsheet, download the zip file of this template, extract the template using WinRAR or 7Zip decompressing software.
Once extracted, you can open the file using Excel and start entering data or customizing the template. You can customize the currency, color scheme, fields in this excel template as per your requirement.