Understanding tax invoices for merchants
Tax invoices serve as essential documentation for merchants, particularly when dealing with taxation authorities like the ZakatTax and Customs Authority. These invoices provide a detailed breakdown of transactions, including the value of the tax applied. By retaining tax invoices, merchants can demonstrate compliance with tax regulations and provide transparency in their financial dealings.
Understanding tax settlements
One key aspect to note is that the value of the tax is already included in the settlement amounts processed by Tamara. This means that the tax amount has been deducted at the time of settlement, alleviating the need for merchants to make separate tax payments based on the invoices.
Accessing tax invoices on the Tamara Partners Portal
For merchants utilizing the Tamara Partners Portal, accessing tax invoices is a straightforward process.
By following these steps, merchants can conveniently browse and download their tax invoices for record-keeping and reference:
- Log in to your account: Access the Tamara Partners Portal and log in to your account.
- Navigate to payment information: Once logged in, navigate to the side menu and click on "Payment Information".
- Select invoice: Within the payment information section, select the option for "Invoice" to view and manage your settlement and tax invoices.
- Download invoices: Merchants can browse through the available invoices, including settlement and tax invoices, and download them to their devices for future use.
By following these steps, merchants can maintain organized records of their transactions and tax obligations, facilitating smooth operations and compliance with regulatory requirements.