IRD mandates tax stamps on receipts for businesses and customers

Business operators and customers must affix tax stamps on receipts, as stated by the Internal Revenue Department (IRD).
According to Commercial Tax Regulation 40, subsection (a), businesses such as restaurants, hotels, broadcasting services, jewellery shops, mobile phone retailers, and related establishments are obligated to collect taxes, including sales tax or service revenue. They must issue stamped receipts and submit the sales tax to the relevant tax offices.
Those who report instances where tax stamps are missing from receipts will receive a reward. Whistleblowers will receive 30 per cent of the fine for reporting unstamped receipts and 20 per cent for reporting unstamped mobile handsets.
The IRD advises customers to request receipts with tax stamps when making payments at businesses. Furthermore, business owners are obligated to provide stamped receipts, regardless of whether customers request them. — TWA/MKKS

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