The VAT Law of 2000 and the VAT (General) Regulations of 2001 require VAT invoices to be issued for all taxable transactions. Recognising that the nature of their business makes it difficult for some traders, such as canteens and mobile traders selling items with a low unit price, to provide a legal proof of supply at the time of delivery, the Tax Department has issued a circular (EE228 dated 20 December 2018) allowing the use of pre-printed receipts of a fixed value, such as €1 or €2, to be handed to customers or attached to the goods concerned. The receipts should be in numbered blocks of a standard value and should show a serial number, the name, address and registration number of the supplier, a description of the goods or services provided, the total amount payable including VAT and the applicable VAT rate.
Traders adopting this option should maintain, in addition to their normal accounting records, separate records of usage on a daily or a "per-event" basis showing the serial numbers of the receipts used in each event with a clear indication of the date, the total amount received, and the amount of VAT included. Where a trader does not maintain separate adequate records, the issue of such pre-printed receipts will not be acceptable.
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