Value Added Tax

 

Getting Started

 

Resources

 

Forms/Guides

 

Managing

Your VAT

 

Audit Visits

 

FAQs

 
                           
                           

MANAGING YOUR V.A.T.

   

PART-EXCHANGES, RETURNED GOODS, DEPOSITS, ETC.

 

What You Must Do If You Receive A Credit Note

 

If you paid too much VAT on a purchase made your supplier will issue a credit note.

 

You must:

  • record this in your accounting records
  • the, the VAT adjustment must be recorded as Output VAT on line #255 of your Tax Return form in the month received.  (You will increase you output VAT by the amount to set off the amount claimed as input VAT.)

 

     
                           

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Ⓒ2013 Inland Revenue Department, Government of Saint Lucia.