VAT Return

    A periodic declaration of VAT collected and paid.

    Definition

    A VAT return is a document submitted to tax authorities detailing the total output VAT collected from sales, input VAT paid on purchases, and the net amount owed or reclaimable. Filing frequency varies by country — monthly, quarterly, or annually.

    Related Terms

    Input VAT
    VAT paid on purchases used for business activities.
    Output VAT
    VAT charged on sales to customers.
    VAT (Value Added Tax)
    A consumption tax levied at each stage of the supply chain.

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