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A Project Invoice is a fundamental financial document used in the Philippine business environment to request payment for project-based work or services. This document type is essential for businesses conducting project-based transactions and must strictly comply with Bureau of Internal Revenue (BIR) regulations, particularly Revenue Regulations No. 16-2005. The Project Invoice serves multiple purposes: it documents the completion of project milestones or deliverables, provides a detailed breakdown of costs and services rendered, includes mandatory tax information, and establishes payment terms. It's commonly used in both domestic and international business transactions, requiring specific elements such as TIN numbers, VAT details (if applicable), and complete business information of both parties. The document is particularly crucial for project-based industries where billing is tied to specific deliverables or project phases.

1. Invoice Header: Contains invoice number, date, TIN (Tax Identification Number), and VAT registration details if applicable

2. Seller Information: Complete business name, address, and contact details of the service provider/seller

3. Client Information: Complete name, billing address, and contact details of the client/buyer

4. Project Details: Project name, reference numbers, and brief description of the project scope

5. Service Description: Itemized list of services rendered with detailed descriptions

6. Billing Details: Unit costs, quantities, subtotals, and total amount due

7. Tax Breakdown: VAT or percentage tax calculations as applicable

8. Payment Terms: Due date, accepted payment methods, and banking details

9. Total Amount: Final amount due in both figures and words as required by Philippine regulations