File VAT Returns (Bahrain)

1 - Standard rated Sales

Current period transactions - taxable at 5%

Displays the nett assessable values of sales, sales returns, cancellation of sales and increase in sales (recorded in debit note) with the following Nature of transaction :

● Domestic Taxable Supplies

● Domestic Supplies - Transfer of Right to Use

● Domestic Supplies - Profit Margin

Adjustments recorded in current period, against sales of previous period - taxable at 5%

Displays the values of sales returns of previous period, recorded in the current period with the following Nature of transaction :

● Domestic Taxable Supplies

● Domestic Supplies - Transfer of Right to Use

● Domestic Supplies - Profit Margin

Journal Vouchers

Displays the value of journal vouchers recorded for:

● Decrease of Tax Liability by selecting:

o Bad Debts .

o Cancellation of Tax Liability for Advance Receipts

● Increase of Tax Liability by selecting

o Exempt and Other Than Business Purposes

o Imports

o Imported for Subsequent GCC Transfers

o Intra GCC Purchase

o On Account of Advance Receipts

o Sale on Profit Margin

o Transfer of Own Goods to Other GCC Countries (select the country)

o Without Consideration or Less Consideration

● Increase of Tax Liability & Input Tax Credit by selecting Imports or Intra GCC Purchase

VAT on transactions and adjustments recorded in current period

Displays the VAT amount on sales, sales returns and increase in sales (recorded in debit note) with the following Nature of transaction :

● Domestic Taxable Supplies

● Domestic Supplies - Transfer of Right to Use

● Domestic Supplies - Profit Margin

Displays the value of VAT ledger (not the assessable value) for the following journal vouchers :

● Decrease of Tax Liability by selecting:

o Bad Debts .

o Cancellation of Tax Liability for Advance Receipts

● Increase of Tax Liability by selecting

o Exempt and Other Than Business Purposes

o Imports

o Imported for Subsequent GCC Transfers

o Intra GCC Purchase

o On Account of Advance Receipts

o Sale on Profit Margin

o Transfer of Own Goods to Other GCC Countries (select the country)

o Without Consideration or Less Consideration

● Increase of Tax Liability & Input Tax Credit by selecting Imports or Intra GCC Purchase

2 - Sales to registered taxpayers in other GCC States

Current period transactions - taxable at 0%

Displays the nett assessable values of sales, sales returns, cancellation of sales and increase in sales (recorded in debit note) with the following Nature of transaction :

● Intra GCC Supplies

● Intra GCC Subsequent Transfers

Adjustments recorded in current period, against sales of previous period - taxable at 0%

Displays the values of sales returns of previous period, recorded in the current period with the following Nature of transaction :

● Intra GCC Supplies

● Intra GCC Subsequent Transfers

As the transactions are of 0% VAT rate, this field will be left blank.

3 - Sales subject to domestic reverse charge mechanism

This is currently not supported, hence will be left blank.

4 - Zero rated domestic sales

Current period transactions - taxable at 0%

Displays the nett assessable values of sales, sales returns, cancellation of sales and increase in sales (recorded in debit note) with the Nature of transaction - Domestic Zero Rated Supplies .

Adjustments recorded in current period, against sales of previous period - taxable at 0%

Displays the values of sales returns of previous period, recorded in the current period with the Nature of transaction - Domestic Zero Rated Supplies .

As the transactions are of 0% VAT rate, this field will be left blank.

5 - Exports

Current period transactions - taxable at 0%

Displays the nett assessable values of sales, sales returns, cancellation of sales and increase in sales (recorded in debit note) with the Nature of transaction - Exports .

Adjustments recorded in current period, against sales of previous period - taxable at 0%

Displays the values of sales returns of previous period, recorded in the current period with the Nature of transaction - Exports .

As the transactions do not attract tax, this field will be left blank.

6 - Exempt sales

Current period transactions - taxable at 0%

Displays the nett assessable values of sales, sales returns, cancellation of sales and increase in sales (recorded in debit note) with the Nature of transaction - Domestic Exempt Supplies .

Adjustments recorded in current period, against sales of previous period - taxable at 0%

Displays the values of sales returns of previous period, recorded in the current period with the Nature of transaction - Domestic Exempt Supplies .

As the transactions do not attract tax, this field will be left blank.

7 - Total Sales

Value will be autocalculated in the VAT return.

8 - Standard rated domestic purchases

Current period transactions - taxable at 5%

Displays the nett assessable values of purchase, purchase returns, cancellation of purchases and increase in purchases (recorded in credit note) with the following Nature of transaction :

● Domestic Taxable Purchases

● Domestic Purchases - Transfer of Right to Use

● Domestic Taxable Purchases - Capital Goods (when ledger is grouped under Fixed Assets)

Adjustments recorded in current period, against purchases of previous period - taxable at 5%

Displays the values of purchase returns of previous period, recorded in the current period with the following Nature of transaction :

● Domestic Taxable Purchases

● Domestic Purchases - Transfer of Right to Use

● Domestic Taxable Purchases - Capital Goods (when ledger is grouped under Fixed Assets)

Also, purchases of these natures of transaction made in the current period, having Original invoice date of previous period, will be captured here.

Journal Vouchers

Displays the value of journal vouchers recorded for:

● Decrease of Tax Liability by selecting Capital Goods .

● Increase of Tax Liability by selecting Capital Goods .

● Increasing Input Tax by selecting Capital Goods or Recoverable VAT from Other GCC Countries .

● Reversal of Input Tax by selecting:

o Capital Goods

o Bad Debts .

o Exempt and Other Than Business Purposes

VAT on transactions and adjustments recorded in current period

Displays the VAT amount on the nett value of purchases recorded with the following Nature of transaction :

● Domestic Taxable Purchases

● Domestic Purchases - Transfer of Right to Use

● Domestic Taxable Purchases - Capital Goods (when ledger is grouped under Fixed Assets)

Displays the value of VAT ledger (not the assessable value) for the journal vouchers recorded with:

● Decrease of Tax Liability by selecting Capital Goods .

● Increase of Tax Liability by selecting Capital Goods .

● Increasing Input Tax by selecting Capital Goods or Recoverable VAT from Other GCC Countries .

● Reversal of Input Tax by selecting:

o Capital Goods

o Bad Debts .

o Exempt and Other Than Business Purposes

9 - Imports subject to VAT either paid at customs or deferred

Displays the assessable value entered for VAT ledger in journal vouchers recorded for:

● Account for and Claim VAT Paid to Customs by selecting Imports or Intra GCC Purchase .

● Increasing Input Tax by selecting Claiming VAT Paid to Customs

This field will be left blank.

Journal vouchers

Displays the VAT amount (not the assessable value) in journal vouchers recorded for:

● Account for and Claim VAT Paid to Customs by selecting Imports or Intra GCC Purchase .

● Increasing Input Tax by selecting Claiming VAT Paid to Customs .

10 - Imports subject to VAT accounted for through reverse charge mechanism

Current period transactions

Displays the nett assessable values of purchase, purchase returns, cancellation of purchases and increase in purchases (recorded in credit note) with the following Nature of transaction :

● Intra GCC Taxable Purchases

● Imports Taxable (when the option Is VAT Paid at Customs is set to No in the invoice).

Displays the assessable value entered for VAT ledger in journal vouchers recorded for:

● Increase of Tax Liability & Input Tax Credit by selecting Imports or Intra GCC Purchase .

● Increasing Input Tax by selecting Imports or Intra GCC Purchase .

● Reversal of Input Tax by selecting Imports or Intra GCC Purchase .

Displays the VAT amount (not the assessable value) in journal vouchers recorded for:

● Increase of Tax Liability & Input Tax Credit by selecting Imports or Intra GCC Purchase .

● Increasing Input Tax by selecting Imports or Intra GCC Purchase .

● Reversal of Input Tax by selecting Imports or Intra GCC Purchase .

11 - Purchases subject to domestic reverse charge mechanism

This is currently not supported, hence will be left blank.

12 - Purchases from non-registered suppliers, zero-rated/ exempt purchases

Current period transactions

Displays the nett assessable values of purchase, purchase returns, cancellation of purchases and increase in purchases (recorded in credit note) with the following Nature of transaction :

● Domestic Exempt Purchases

● Domestic Purchases - Unregistered

● Domestic Zero Rated Purchases .

Displays the values of purchase returns of previous period, recorded in the current period with the following Nature of transaction :

● Domestic Exempt Purchases

● Domestic Purchases - Unregistered

● Domestic Zero Rated Purchases .

Also, purchases of these natures of transaction made in the current period, having Original invoice date of previous period, will be captured here.

As the transactions do not attract tax, this field will be left blank.

13 - Total purchases

Value will be autocalculated in the VAT return.

14 - Total VAT due for current period

Value will be autocalculated in the VAT return.

15 - Corrections from previous period (between BHD ±5,000)

This field will be left blank.

This field will be left blank.

Displays the VAT amount (not assessable value) entered for VAT ledger in journal vouchers recorded for:

● Decrease of Tax Liability by selecting:

o Corrections/Amendments

o Others

● Increase of Tax Liability by selecting:

o Corrections/Amendments

o Interest

o Others

o Penalty

● Increasing Input Tax by selecting:

o Corrections/Amendments

o Others

● Reversal of Input Tax by selecting:

o Corrections/Amendments

o Others

16 - VAT credit carried forward from previous period(s)

This field will be left blank.

This field will be left blank.

Displays the VAT amount:

● Brought forward from previous period.

● Entered for VAT ledger in journal vouchers recorded for Opening Balance .

17 - Net VAT due (or reclaimed)

Value will be autocalculated in the VAT return.