The key components of your VAT report should include:
- Financial documents such as sales invoices and purchase orders with VAT clearly marked on them
- Input VAT – the amount of VAT you have paid
- Output VAT – the amount of VAT you have charged
- VAT Balance – the difference between Input VAT and Output VAT
- VAT reclaimed – on purchases and other items made during the period in question
Source Blue Dot
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