Get the free VAT Return Form - The Lesotho Trade Portal

FORM P.18Serial #Employees Tax (Pay As You Earn PAY) Return TAXPAYER DETAILS Please read the notes on the reverse before you complete this form. To be filled in Quadruplicated Employers Registered

How to fill out vat return form

How to fill out vat return form

1. To fill out a VAT return form, follow these steps:
2. Start by entering your business details, including your business name, address, and VAT registration number.
3. Next, enter the period covered by the return. This usually consists of a three-month period.
4. Calculate your total sales or outputs and enter this figure in the appropriate section. Make sure you include any exempt or zero-rated supplies separately.
5. Calculate the VAT due on your sales and enter this figure in the corresponding box.
6. Deduct the VAT you have already paid on your purchases or inputs and enter this figure in the appropriate section.
7. If the VAT due is higher than the VAT paid, you will need to pay the difference to the tax authorities. If the VAT paid is higher than the VAT due, you may be able to claim a refund.
8. Include details of any adjustments or corrections needed, such as errors in previous returns or bad debts.
9. Finally, sign and submit the completed form to the relevant tax authority by the specified deadline.

Who needs vat return form?

1. Any business that is registered for VAT needs to fill out a VAT return form. This includes businesses that are required to register because their taxable turnover exceeds the VAT threshold, as well as businesses that choose to register voluntarily.
2. Additionally, businesses involved in certain types of supplies, such as those making zero-rated or exempt supplies, may also need to submit a VAT return form even if they fall below the registration threshold.

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What is vat return form?

VAT return form is a document used by businesses to report the amount of VAT they have paid and collected during a specific period.

Who is required to file vat return form?

Businesses that are registered for VAT are required to file VAT return form.

How to fill out vat return form?

To fill out a VAT return form, businesses need to report the amount of VAT they have paid on purchases and the amount of VAT they have collected on sales.

What is the purpose of vat return form?

The purpose of vat return form is to report the VAT collected and paid by businesses to the tax authorities.

What information must be reported on vat return form?

Information such as total sales, total purchases, VAT collected, and VAT paid must be reported on VAT return form.