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CPE ACCREDITATION categorised as an activity relevant to the attainment of Core Competencies in terms of the Accountancy Board CPE scheme. VALUE ADDED TAX RETURN WALKTHROUGH TUESDAY 29 SEPTEMBER 2015 REGISTRATION 13 45 14 00 SEMINAR TIME 14 00 17 15 VENUE INTERCONTINENTAL MALTA ST GEORGE S BAY ST JULIANS SPEAKER JOSEF MERCIECA The seminar has been accredited three hours of structured CPE by the Malta Institute of Accountants MIA and categorised an activity relevant to the attainment of...

How to fill out value added tax return

How to fill out value added tax return

1. Obtain a copy of the value added tax return form from the tax authority.
2. Gather all relevant sales and purchase data for the period covered by the return.
3. Fill in the details of your business, including your name, address, and tax identification number.
4. Calculate the total value of sales made during the period and enter it in the appropriate field.
5. Determine the total value of purchases made and input it in the designated field.
6. Calculate the value added tax due by applying the relevant tax rate to the taxable sales.
7. Deduct any input tax credits that are applicable to your business.
8. Enter the final amount of value added tax payable or refundable on the return form.
9. Double-check all information entered and ensure its accuracy.
10. Submit the completed value added tax return to the tax authority within the specified deadline.

Who needs value added tax return?

1. Businesses that are registered for value added tax (VAT) purposes.
2. Individuals or entities engaged in taxable activities, such as selling goods or providing services.
3. Businesses with annual sales turnover exceeding the VAT registration threshold set by the tax authority.
4. Importers and exporters of goods, as they may be subject to VAT regulations.
5. Any person or entity required by the tax authority to file a value added tax return.

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What is value added tax return?

Value added tax return is a document that businesses must submit to tax authorities showing the amount of VAT they have charged on their sales and the amount of VAT they have paid on their purchases.

Who is required to file value added tax return?

Businesses that are registered for VAT are required to file value added tax return.

How to fill out value added tax return?

Value added tax return can be filled out either manually or online, depending on the requirements of the tax authorities.

What is the purpose of value added tax return?

The purpose of value added tax return is to report the amount of VAT charged and paid by a business during a specific period.

What information must be reported on value added tax return?

The information that must be reported on value added tax return includes sales figures, purchased goods or services, VAT charged, and VAT paid.