Invoicing and Tax regulation in Chad
Invoicing Regulation in Chad
Invoicing in Chad follows the OHADA Uniform Act on the organization and harmonization of Companies' accounts. Every B2B, B2C, and B2G transaction must be accompanied by an invoice. The invoice should include details such as business number, names, addresses, the nature of goods or services, quantity and price, date, and tax rates.
Real-Time Reporting / Fiscalization in Chad
As of now, Chad does not have any real-time reporting or fiscalization requirements for businesses. In other words, B2B, B2C, and B2G businesses are not required to report their transactions in real-time to the tax authorities. However, companies are expected to keep their transaction records for auditing purposes.
E-Invoicing in Chad
Currently, there seem to be no regulations or norms that govern E-invoicing in Chad. However, businesses are encouraged to adapt to electronic invoicing to promote efficiency and transparency, although it is not compulsory.
VAT/GST/Tax Compliance in Chad
In Chad, VAT is levied at a standard rate of 18%. Businesses operating in Chad must register for VAT if their annual turnover exceeds XAF 50 million. They must also regularly file tax returns and maintain accurate records. There are also other taxes such as corporate income tax, withholding tax, and capital gains tax to comply with. B2B, B2C, and B2G businesses must adhere strictly to these tax compliance rules to avoid penalties.