src.gov.sc VAT Value Added Tax Return : Seychelles Revenue Commission

Organization : Seychelles Revenue Commission
Type of Facility : VAT Value Added Tax Return
Country: Seychelles

Website : https://www.src.gov.sc/
Download Form :  https://www.statusin.org/uploads/8585-VATReturn.pdf

Value Added Tax (VAT) :

Value added tax (VAT) is a consumption tax levied on the sales of goods and services provided. VAT is levied at the point of entry and charged at the point of sale, except on goods and services exempted in the Value Added Tax Act, 2010.

Related : Seychelles Revenue Commission Partnership Business Tax Return Lodgement : www.statusin.org/8588.html

VAT will take effect as of 1st January 2013 and will replace the goods and services tax (GST) which has been in existence since 2001. The VAT Act was passed in the National Assembly in December 2010.

We are strongly encouraging taxpayers with any queries on VAT Act to send queries in writing to the Revenue Commissioner and Public Rulings will be published thereafter for clarification.

Value Added Tax Return:
Instructions for completing the VAT Return:
Do not put any figures in the grey areas of the boxes.
Do not complete the part where it states ‘For Official Use Only’

Step 1 Taxable Period:
Enter the applicable month and year of the taxable period.

Step 2 Business Information:
Enter the name, address and Taxpayer Identification Number of your business.

Step 3 Output Tax :
(Supplies of services and goods by you)

1A Enter the total sales at standard rate (excluding capital asset used in your business) exclusive of VAT at box 1A.
1.1A Enter the total sales on exports at box 1.1A.
1.2A Enter the total sales on zero rated supplies that are not exports at box 1.2A.
1.3A Enter the total sale of capital asset excluding VAT box 1.3A

2A Enter the total sales of exempt supplies at box 2A.
1B At box 1B enter the VAT collected on the total taxable supplies at standard rate of 15%.
1.3B At box 1.3B enter the VAT collected on the total sale of capital asset
3B Enter any adjustments made at box 3B. Refer to the VAT guide for more details on adjustments.
4B Enter the total output tax at box 4B. The total output tax is the sum of VAT reported at box 1B plus

VAT collected on total sale of capital asset at box 1.3B plus or minus any adjustment reported at box 3B.

Step 4 Input Tax (Imports and Purchases):
5.1A Enter the total custom value (CIF)plus taxes but excluding VAT of imported goods at box 5.1A.
5.1B Enter the VAT incurred on imported goods at box 5.1B.
5.2A Enter the total cost of goods and services purchased locally exclusive of VAT at box 5.2A
5.2B Enter the VAT incurred on goods and services purchased locally at box 5.2B
5.3A Enter the total cost of capital goods imported or purchased for use in your business exclusive of VAT at box 5.3A
5.3B Enter the VAT incurred on capital goods imported or purchased for use in your business at box 5.3B

6A Enter the total cost of goods and services where the input tax is not allowed as credit at box 6A.

Contact:
Seychelles Revenue Commission
P.O Box 50, Orion Mall, Victoria
Advisory Centre, Ocean Gate House, Victoria
Tel: 4 29 37 37, 4 29 37 42 Fax: 4 22 55 65
E-mail: advisory.center@src.gov.sc