VAT Compliance Obligations – How can we help you?

Managing one’s vat obligations can be challenging sometimes.  Legislation changes frequently and there are a number of matters which need to be considered as one’s business continues to grow and expand.  Thus it is vital that you have a partner who can guide you in all VAT matters, particularly when you carry out cross border […]

Written By ACT Team

On June 26, 2017
"

Read more

Managing one’s vat obligations can be challenging sometimes.  Legislation changes frequently and there are a number of matters which need to be considered as one’s business continues to grow and expand.  Thus it is vital that you have a partner who can guide you in all VAT matters, particularly when you carry out cross border transactions.   Some businesses may require practical support to ensure that the decisions they take are not hindered by complex VAT issues. Our range of consulting services includes advice on various indirect taxes in particular VAT.

ACT is made up of a number of experienced professionals who can advise and assist you on a number of vat aspects.  Some of these aspects can be complex to understand.  We can help you understand these issues and make them as simple as possible, while at the same time ensuring that your vat compliance obligations are kept up to date and performed in the correct manner.  We can help you amongst other things to:

Issue tax invoices by including the full and correct details in accordance with the pertinent regulations;

  1. Understand your duties and obligations with respect to record-keeping;
  2. Report correctly all pertinent VAT transactions in your VAT returns in the relative tax reporting period;
  3. Account for vat in a correct manner by ensuring that this is done at the right time and at the correct rate;
  4. Understand the place of supply rules and properly treat cross-border transactions in the correct manner for vat purposes;
  5. Claim all allowable input VAT and exclude any vat which cannot be claimed;
  6. Correctly apply the partial attribution method; and
  7. File recapitulative statements in a correct manner.

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.  

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected].