The master data should include the registered company name, address and Georgian tax identification number. For business customers, the system should allow their correct name, address and tax identification number to be recorded. Each invoice needs an issue date and a unique reference within the numbering sequence in use. Goods or services should be described precisely by type, scope, quantity or period so that the transaction being invoiced is identifiable. The date or period of supply should be capable of being stated separately from the invoice date. The system must show the currency, unit prices, total amount and agreed payment terms. Where VAT must be shown, the taxable amount, tax rate, tax amount and gross amount should appear separately. For tax-exempt transactions or transactions not taxable in Georgia, an appropriate tax designation should be provided, without incorrectly charging Georgian VAT. Bank details, a contract or order reference and contact details can support payment and subsequent reconciliation. Before approving the template, check whether the specific transaction also requires a special tax document through the Revenue Service of Georgia system.
Determining invoice details before starting a business in Georgia
A company’s required invoice details in Georgia depend on the transaction, tax status and type of document issued. The invoice template should therefore clearly and comprehensively show the sender, customer, service details, amounts and tax treatment.
VivAVia can make mistakes. Check important information.