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REPUBLIC OF FIJI ISLANDS ___VALUE ADDED TAX DECREE 1991 ___VALUE ADDED TAX (BUDGET AMENDMENT) DECREE 2010 (DECREE No.13 of 2010)IN exercise of the powers vested in me as the President of the Republic
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How to fill out value added tax decree

01
Step 1: Obtain the value added tax decree form from the appropriate tax authority.
02
Step 2: Fill in the relevant information about the taxpayer, including their name, address, and tax identification number.
03
Step 3: Provide details about the taxable transactions, such as the date, description, and amount of each transaction.
04
Step 4: Calculate the value added tax amount for each transaction based on the applicable tax rate.
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Step 5: Summarize the total taxable amount and the total value added tax amount on the form.
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Step 6: Sign and date the value added tax decree.
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Step 7: Submit the filled-out value added tax decree to the tax authority within the specified deadline.
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Step 8: Keep a copy of the filled-out value added tax decree for record keeping purposes.

Who needs value added tax decree?

01
Businesses and individuals who are registered for value added tax and engage in taxable transactions require a value added tax decree. This includes entities involved in the sale of goods or services, importers or exporters, and other business activities subject to value added tax regulations.

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The value added tax decree is a legal document that outlines the regulations, procedures, and obligations for collecting and remitting value added tax (VAT) in a specific jurisdiction.
Businesses and individuals registered for value added tax, including suppliers of goods and services whose turnover exceeds a certain threshold, are required to file the value added tax decree.
To fill out the value added tax decree, taxpayers must provide details of their taxable sales, purchases, input tax credits, and any adjustments for the reporting period as per the prescribed format by the tax authorities.
The purpose of the value added tax decree is to establish a framework for the assessment, compliance, and collection of VAT, ensuring transparency and accountability in the taxation process.
The information that must be reported includes total sales, total purchases, VAT collected, VAT paid on purchases, any exemptions claimed, and other relevant details as per tax regulations.
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