With the first remittance of the VAT return and payment due on November 21st, the VAT Section of the Inland Revenue Department is gearing up to visit registered businesses for the purpose of assisting with the completion of the VAT Return.
Ahead of these visits, the Inland Revenue Department has already dispatched the VAT Return (Form VAT 003) to all registered taxpayers.
Filing assistance will be made available from October 31, 2012 to November 16, 2012. Help desks will also be set up from the 12-20 November, 2012 at all Inland Revenue locations as well as at the J Q Charles Rodney Bay Mall on November 15 and 16, 2012. The Help Desk will be available from 10am to 3pm on the identified dates.
The VAT Return will reflect VAT related transactions of registered businesses for the period October 1 – 31st, 2012. A sample of the VAT Return is available on the VAT website, www.vat.gov.lc, as well as basic guidelines that one would need to follow in order to complete their VAT Return Form.
The VAT Section is finalizing the production of an instructional tool to help registrants become familiar with the VAT Return. The Worksheet Guide is a practical tool that will take the registrant step by step through the filing process. This Guide will be available on the VAT website and from the VAT Section in the coming week. The VAT Guide also provides information to make filing the VAT returns easy.
All completed return forms and payments are to be brought in to the Inland Revenue Department in Castries, Vieux Fort or Soufriere on or before November 21, 2012.