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The first thing to do when filing a VAT return is to ensure you have all of the required information. You should have gross and taxable sales to calculate the correct amount of tax. You can also include adjustments. You can also use a VAT report to calculate the correct amount of tax. It’s easy to use and can save you time. When you’re done, send it to authority. However, before filing a return, be sure your business has VAT registration in Abu Dhabi.
1: You’ll need your VAT liability report to file your return. This will show you how much VAT you owe, as well as how much you’ve paid in taxes. You can also use this report to e-file your return online through MTD or print a copy and mail it in. If you’re using a paper form, you can check whether you didn’t perform any activities during the tax period. You can also enter zero for tax payable and negative tax to reduce your owe.
2: Once you have your VAT account set up in Easy Books, you can begin filling out the return. The form will prompt you to choose whether to claim a net VAT refund or carry it forward. The default option is to carry the refund forward, but you can change this by ticking the “I want to claim a refund.” To do this, select the “Payment Method” button. Your VAT account will be updated automatically.
3: The next step is to fill out the VAT return. This process involves two stages: completing the return and previewing it. You must make sure that all the information is correct before sending it. On the website, you can check that you had no activities during the tax period, and on the paper form, you can type “0” in the tax payable and “negative” tax. If you’ve got your VAT liability report and have made all the necessary adjustments, you’re ready to go.
4: The VAT return should be completed in the normal way. If there are any errors, the return can be corrected within 30 days. During the same period, you can also make revisions to the return. The revised VAT returns will be considered the original ones. However, it would help if you remembered that certain legal conditions apply to your return. If you have any mistakes in the report, you can always file a revised VAT.