VAT Compliance and Filing of Returns

VAT Compliance and return filing become mandatory once an entity gets a Tax registration number. The Entity becomes responsible for charging VAT when it sells its goods or services.

Businesses will be required to file a quarterly declaration of their sales and purchases on the online portal. This statutory declaration will summarize all taxable transactions made in that specific period.

Every VAT return may have different information requirements. In all cases, entities must declare that VAT has been charged on sales (output VAT) and are allowed to claim back the VAT that has been paid out (input VAT), subject to taxable activity in the particular period.

Our team of VAT Compliance and Return Filing experts can provide the following services:

• Advice on the periodic provision of data
• Providing a standard data template
• The platform for information sharing, reminders, and file transfer
• Ongoing compliance advice relating to VAT treatment, exchange rates, and invoice requirements
• Review and analysis of data and underlying documents
• Preparation and submission of all statutory reports
• Dealing with all correspondence from tax offices