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How to: Submit VAT Statements

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Companies must pay VAT for most purchased goods and services. VAT can be deducted if the goods and services that are purchased by a company are used in the production of its income.

You must submit periodic VAT statements to the tax authorities to list transactions that include VAT with amounts over a specific threshold. Before you submit your VAT statement, you should review the VAT statement, and then settle and post the VAT transactions.

To review and print VAT statements

  1. In the Search box, enter VAT Statements, and then choose the related link.

  2. In the VAT Statement window, in the Statement Name field, select the required VAT statement, and then, on the Home tab, in the Process group, choose Print.

  3. On the Options FastTab, enter a date interval to limit the period covered by the statement and define what type of VAT entries that you want to include.

  4. Choose the Print button to print the VAT statement.

You can use the printed VAT statement to review the VAT entries to be submitted to the tax authorities.

To settle and post VAT transactions

  1. In the Search box, enter Calc. and Post VAT Settlement, and then choose the related link.

  2. On the Options FastTab, enter a date interval to limit the period covered by the VAT settlement, select the correct VAT settlement account, and then select Post if you want to post the VAT amounts to the settlement account.

  3. Choose the Print button to print the VAT settlement and post the entries.

After you calculate and post the VAT settlement, VAT amounts are transferred to the appropriate VAT settlement accounts.

To submit VAT statements

  1. In the Search box, enter VAT Statements, and then choose the related link.

  2. In the VAT Statement window, in the Statement Name field, select the required VAT statement, and then, on the Home tab, in the Process group, choose Print, and then choose PDF.

The exported file can now be submitted to the tax authorities.

See Also

Reference

VAT Exemptions

Other Resources

Set Up VAT
How to: Record VAT
How to: Define VAT Statements
Calc. and Post VAT Settlement