Name of the Organization : Saint Lucia Inland Revenue Department
Type of Facility : VAT Return Filing
Country : Saint Lucia
Website : http://irdstlucia.gov.lc/
VAT Return Filing:
This comprehensive guide is to assist you in preparing your Value Added Tax (VAT) return. Please follow the instructions given to avoid any mistakes.
Related : Inland Revenue Department Registration Saint Lucia : www.statusin.org/7689.html
If you have any queries that may not have been mentioned in this guide, kindly contact the VAT Section of the Inland Revenue Department at 468-2800.
Who is required to file a VAT return and make VAT payments?:
At the end of each VAT period – usually every month (see below for more information on VAT period) a VAT return needs to be completed. The return informs the IRD:
** The amount of VAT charged to your customers. (Output VAT)
** The amount of VAT paid on your purchases (Input VAT)
** The Net amount of VAT you must pay or be refunded
** The total amount of supplies (Sales/Services) and purchases made
This Guide explains in detail how to complete your VAT return. Below are some common terms used as prescribed by the VAT Act.
Taxable person:
Is a person who is registered or is required to register.
Tax Period:
Refers to a calendar month (includes all taxable sales and taxable purchases that have taken place between the first of the month and the last day of the month).
Due Date:
Refers to when the actual VAT return and payment for a given tax period is “due”. For example, the VAT return for the tax period of October is “due” by November 21; October 1 to October 31 is the tax period — November 21 is the “due date”.
Compiling Data to complete the VAT return:
To complete the VAT return you must maintain the appropriate VAT records and accounts during the month.
Overview:
For transactions during the tax period the VAT records consist of the following:
** tax invoices
** sales receipts
** debit and credit notes
After the end of the month, the totals for the month are inserted into relevant lines of the VAT return for submission to the IRD.
Please do:
Section 3:
** Complete all boxes. Write one amount in each box or put “NIL” where appropriate.
** Submit your VAT return with all payments due to be received no later than the 21st
** Correct any mistakes by crossing the figure out; then write in the correct amount and initial the amendment. day following the tax period for which you are preparing the return. All payments are to be made to the IRD in Castries, Vieux Fort or Soufriere. Please make cheques payable to “Accountant General”
** Enclose negative amounts in brackets.
** Complete all sections of your VAT return. The taxpayer’s receipt (the perforated section) will be returned to you as evidence of payment.
Please do not:
** Alter the details already printed on the return, particularly the dates. If any of these are wrong or you have a query, contact the VAT Section by telephone or in writing.
** Write in any boxes or areas that are labeled “For Inland Revenue Use”
Before you start:
** This part of the form contains pre-printed information. However you should check it carefully each taxable period. Some of your checks should include:
** Your name and address If your name or address on the form has changed or is incorrect in any way you should not make the corrections on the form.
** Request a “Change of Registration Details form” from the IRD. Submit the completed form within twenty one (21) calendar days of the change. (Subsection 13 (12) of the Act). This will ensure that subsequent returns and other correspondence are able to reach you without undue delay.
** Tax Identification Number (TIN) Ensure that this is the number that was assigned to you.
For Additional Assistance or Advice:
Please contact the VAT Section at the following address:
SLASPA Building
Manoel Street
CASTRIES
Or
Telephone No. (758) 468–2800
Email: vatinfo@vat.gov.lc
Always quote your TIN when you contact us.