Construction
VAT on Progress Billing Invoice (Output)
Charging 16% VAT on a progress certificate raised to a client in Jordan.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable (Progress Billing) | Asset (+) | 232,000.00 | - |
| Contract Revenue | Revenue (+) | - | 200,000.00 |
| VAT Output Tax Payable | Liability (+) | - | 32,000.00 |
💡 Accountant's Note
Construction services in Jordan are subject to 16% VAT. The contractor charges VAT on each progress certificate and remits the net VAT (output minus input) to the ISTD.
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