VAT Filing

In Dear Systems, VAT Filing can be done in any one of the following time periods:

  • Monthly
  • Quarterly

This option is Actioned when you register for VAT. You would have Actioned this time period in DEAR Systems while setting up your organization.


Reports in Dear Systems are auto-generated based on all your sales and purchase transactions. There are three reports:

  • Tax Returns (VAT)
  • VAT Audit Report
  • Excise Tax Audit Repor 

Tax Returns

The tax returns report is a comprehensive summary of your VAT returns. This report contains a list of tax returns files which are generated for specific time periods.

The actions that you can perform in this report are:

  • Generate the tax returns file.
  • Download the file.
  • File your tax returns.
  • Mark the tax returns as filed.

The tax returns report generated in DEAR Systems follows the standards and specifications mentioned by the FTA
 

To generate the tax return file:

  • Go to Reports
  • Scroll down to Financials
  • Click on VAT Return


  • Select any report that you’ve generated to view the report.

 


The tax return file consists of the following sections:


VAT on Sales and all other Outputs

 


VAT on Expenses and all other Inputs

 


Net VAT due



VAT Audit Report

The VAT audit report contains all the transactions which are carried out under VAT. It contains a list of FTA audit files which are generated for specific time periods. The FTA has mandated this report for audit purposes i.e. to ensure that all the transactions pertaining to VAT are correctly recorded and calculated.

How to Generate a VAT Audit File

From within the Tax Return Page select the button to Download the VAT Audit File.


  • Select FTA VAT Audit file and a popup form will render on the screen, which the user has to define the fields and continue to download the file.



Upon generation, the file will start to download.


Excise Tax Audit Report

Likewise, the FTA Excise Audit file is a summary of all transactions which have an excise tax on them.


Generate the Excise Tax Audit File

Similarly to  FTA VAT Audit File, you can generate an excise tax audit file by clicking on the "Download FTA Excise Audit" file button.



  • Select FTA VAT Audit file and a popup form will render on the screen, which the user has to define the fields and continue to generate the file.


Upon generation, the file will start to download.


Mark the Tax Return as Filed

After you’ve downloaded and filed your tax return, you can mark it as Filed in Dear Systems by simply clicking on the "Mark as Filed" button.  




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