- An invoice is issued before payment to request funds; a receipt is issued after payment as proof of payment.
- A VAT invoice is used by VAT-registered businesses for taxable supplies and includes detailed tax and transaction information.
- A tax invoice is similar to a VAT invoice and serves as formal proof for claiming tax credits or input tax.
- A receipt is usually less detailed and often cannot be used to reclaim VAT unless it meets simplified invoice rules.
Source: vatabout.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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