Tax Receipt Template

As with all sales, when the payment is made on a purchase, there is usually an issuance of a receipt to confirm the payment. Not only will this avoid future disputes with the business entity or allow future services such as repairs, refunds or exchanges, a receipt can also allow you to get a tax credit.

A tax receipt is an acknowledgement of the purchase transaction performed and lists out the amount taxable. However, a customer can submit his tax receipts and claim a portion or all of it back, depending on the conditions. For example, tourists in a country are allowed to accumulate their tax receipts on purchases made during their stay in the country. Upon departure, at the airport or some government provided tax refund facility, the tourist can submit these tax receipts for a refund of the taxes charged during their purchases. Hence, the tourists have purchased the goods on a net price. This is a benefit to the tourists and encourages them to return to the country. The country also benefits from the tourists’ foreign exchange and spending in the country.

It is a win-win situation for both parties. Hence, the tax receipt template is a useful tool to register:

* Payee’s Name & Address

* Payee’s contact number

* Payer’s Name & Address

* Date of Transaction

* Type of Transaction

* Transaction’s Description

* Transaction amount

* Tax amount

* Tax Percentage

* Tax Sub-total

* Tax Total

Consider the attached sample template for your convenience.

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