A Fiscal Tax Invoice is a specific type of tax invoice issued by a Registered Operator ( a person registered with ZIMRA for Value Added Tax) for supplying taxable supplies.
With effect from 1 January 2022, under FINANCE (No. 2) ACT of 2022, a tax invoices were re-defined to mean fiscal tax invoices. The words ‘fiscal tax invoice’ must be used on the face of a registered operator’s invoice, (not to be interchanged with ‘tax invoice’. ordinary tax invoices ceased to be valid for supporting input tax credit by 31 March 2022.
Features of a Fiscal Tax Invoice under FMDS.
All registered operators and taxpayers are required to fiscalise under the Value Added Tax (VAT) Act and comply with the requirements of Fiscalisation Data Management System (FDMS).
Fiscal Tax Invoices issued by current interfaced fiscal devices or upgraded fiscal devices should genera invoices with QR codes from FDMS. These Fiscal Tax Invoices will be the only ones allowed in claiming VAT Input Tax.
Features of the Fiscal Tax Invoices under FMDS are;
All Fiscal Tax Invoices, Receipts, Debit or Credit Notes issued at points of sale operated by the taxpayer should include:
- Words “fiscal tax invoice” be present in a prominent.
- The name, address and TIN of the seller.
- The name and address of the buyer.
- The new VAT numbers now start with 22…for both the seller and the buyer.
- A description of the goods or services supplied.
- The quantity or volume of the goods or services supplied.
- Verifiable QR and Authentication Codes generated from FDMS.
To avoid penalties by Commissioner, businesses, from 1 January 2024, are advised not claim input tax claims without the TIN and the new VAT number.
