Fiji VAT Return Form (Form V) is a tax report in Fiji.
The report can be generated with the below filters:
-
Date
-
Accounting Method
-
Cash - Cash method will list all sales
and payment transaction on which cash has been received or paid in a
particular period.
-
Accrual - Accrual method will list all sales and
payment transaction that has been invoiced in a particular
period.
Notes:
-
All fields and calculations are defined on the
report.
-
Zero rated transactions are transaction that are VAT
exempt.
-
Tax rates must be configured in FMS Portal for the
tax report to show data correctly. Setup rates under "Debtor -- Tax
Maintenance".
-
Values on the report is reconciled with the "Tax Return
Report".
Figure 1 : VAT
Form