Value Added Tax Act 1994 Schedule 10B para 1

Meaning of "voucher"

Schedule 10B paragraph 1 defines what constitutes a "voucher" for VAT purposes and sets out the three conditions that must be met, as well as the instruments that are specifically excluded from the definition.

• A voucher is a physical or electronic instrument that one or more persons are obligated to accept as payment for goods or services.
• The goods or services obtainable, or the persons obligated to accept the voucher, must be limited and stated on the instrument or in its terms and conditions.
• The instrument must be transferable by gift, whether or not it can also be transferred for monetary consideration.
• Discount coupons, tickets (such as travel or event admission tickets), and postage stamps are specifically excluded from the definition of a voucher.