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Information For Businesses

Value Added Tax (VAT) Guide

AdobeReader.png The VAT Guide.pdf

This guide is to provide information to educate and assist registered taxpayers, unregistered taxpayers as well as final consumers. The guide provides information on the features of the VAT, how it works, who should register and charge the VAT. It also provides information on the payment and filing procedures as well as the treatment of imports and exports, assessments, objections and the books and records to be kept.

The VAT Section will also provide more detailed information on any issue not fully addressed in this guide.

 


AdobeReader.png LEAFLETS - What is VAT.pdf

Value Added Tax or VAT as it is commonly known is an indirect tax charged on taxable imports and the added value to taxable goods and services, supplied by one business to another or to a final consumer.

 

AdobeReader.png LEAFLETS - Should I be Registered for VAT.pdf

With the implementation of the Value Added Tax(VAT), a threshold has been set at which persons must be registered as VAT taxpayers.

This leaflet provides information on who should be registered for VAT, who can register voluntarily,and why you will benefit from voluntary registration.

It also explains:

• the circumstances in which you must register

• the circumstances in which you cannot register

• the circumstances in which you do not need to register

 

AdobeReader.png LEAFLETS - How to Register for VAT.pdf

 This leaflet speaks to the criteria for and gives guidance on How to Register for VAT.

 

AdobeReader.png LEAFLETS - Now that I am Registered.pdf

This leaflet speaks to the criteria for and gives basic information on what is required after you have registered for VAT.

 

 

AdobeReader.pngLEAFLETS - Filing VAT Returns.pdf

All registered taxpayers are required by law to filemonthly VAT returns.The purpose of this leaflet is to provide taxpayers with basic information for filing VAT returns.

AdobeReader.png LEAFLETS - VAT Documents.pdf

Documentation for VAT is critical for the timely andaccurate filing of VAT returns.

 

AdobeReader.png LEAFLETS - Accounting for VAT.pdf

If you are a VAT registered business, you must keep records of all the supplies you make and receive, and a summary of VAT charged and paid/payable for each tax period covered by your tax returns.

This leaflet tells you about these records, and how best to keep them. Remember that there are penalties for failing to keep proper VAT records a requirement of the VAT Act.

 

AdobeReader.png LEAFLETS - Basic Supply Rules.pdf

This leaflet serves as a guide to the requirements of the Value Added Tax (VAT) as it relates to the applicability of VAT to supplies made by registered businesses.It addresses the time of supply, the place of supply, the value of a supply and any adjustments to be made. The document is developed to determine what should be claimed as input tax and what should be reported as output tax in a taxable period by a taxable person and post supply adjustments including bad debts.


AdobeReader.png LEAFLETS - Input Tax Deductions.pdf

The purpose of this leaflet is to provide taxpayers with important information regarding the allowance and disallowance of input tax deductions under the VAT Act Sec. 31

 

AdobeReader.png LEAFLETS - VAT and Entertainment.pdf

The purpose of this leaflet is to provide taxpayers with important information regarding Public Entertainmentand Value Added Tax (VAT).

 

AdobeReader.pngLEAFLETS - penalties and offenses.pdf

This leaflet serves as a guide to the Value Added Tax Act as it relates to non-compliance

 

 AdobeReader.pngChange of use of goods and services.pdf

 

This Technical Note gives guidance to businesses on the change of use of goods and services under the VAT Act  No.7 of 2012.

 

AdobeReader.pngExtension of time - filing.pdf

 

 This Technical Note gives guidance on Extension of Time for Filing under Section 38 of the VAT Act No.7 of 2012.

 

 AdobeReader.pngService Charge.pdf

 This Technical Note gives guidance on Service Charge under the VAT Act  No.7 of 2012.

 

AdobeReader.pngTransition.pdf

This Technical Note gives guidance on Transition under Section 112 of the VAT Act No.7 of 2012.

 

AdobeReader.pngSponsorship and Donation.pdf

 This Technical Note gives guidance on the Treatment of Sponsorship and Donations under the VAT Act

 

AdobeReader.pngTreatment of Courier Services.pdf

This Technical Note gives guidance on Treatment of Courier Services.  Courier Services consist of both inbound transport and outbound transport.

 

AdobeReader.pngTreatment of Approved Charitable Organisations.pdf

This Technical Note gives guidance on Treatment of Approved Charitable Organisations under the VAT Act  No.7 of 2012.

 

 AdobeReader.pngPresentation on Price Control and VAT to the Media Association.pdf

Value Added Tax (VAT) and Price Controlled Commodities Presentation by Philip McClauren, Director, Consumer Affairs

 

 

AdobeReader.pngA breakdown of the VAT Schedules October 2012.pdf

 

 

 AdobeReader.pngCustoms & Excise Department VAT Verification Procedures.pdf

 

 Overview of the new CED VAT Enforcement Verification Procedures

Please be informed that the Customs Department (CED) new Export Verification procedures will be implemented on 1st October 2012 in support of VAT. It is imperative that all registered businesses (taxpayers) become familiar with these procedures.   Taxpayers who export goods can claim any VAT paid on inputs utilised in the supply of goods or services that are subsequently exported.

Taxpayers claiming VAT on goods that are exported will be given a refund once the Comptroller of Inland Revenue Department (CIRD) is satisfied that the goods in question were exported in keeping with the requirements of the Customs laws. Further, the Customs Department must certify that the goods were exported.

 

AdobeReader.png  FINANCIAL and INSURANCE SERVICES Treatment of VAT.pdf

 

 AdobeReader.png  VAT Amendments to First Schedule 2014.pdf

 

AdobeReader.png  VAT Amendments to exempt schedule 2014.pdf

 

AdobeReader.png  VAT PRESENTATION - Completing the VAT Return.pdf

 

AdobeReader.png  Presentation to Suppliers of Building Materials.pdf

 

 AdobeReader.png  Pharmacy Act - Cap.11.21.pdf

 

 

 

 

 

Contact Us

St. Lucia Inland Revenue Department
VAT Section
Manoel Street
Castries
St. Lucia, W.I.

Tel: (758) 468 2800
Fax: (758) 452 4984
Email:
vatcoordinator@vat.gov.lc
vatinfo@vat.gov.lc

Useful Links

Inland Revenue Department  www.irdstlucia.gov.lc

 

Government of Saint Lucia  www.stlucia.gov.lc

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