VAT Returns
CoralLedger Comply simplifies VAT return preparation for Bahamian businesses.
Filing Schedule
VAT returns in The Bahamas are filed:
- Monthly - For businesses with annual turnover > $5 million
- Quarterly - For most registered businesses
Filing Deadline
VAT returns are due by the 28th of the month following the period end.
Return Components
Each VAT return includes:
Output VAT (Sales)
- Total taxable supplies at 10%
- Total taxable supplies at 5%
- Total zero-rated supplies
- VAT collected from customers
Input VAT (Purchases)
- VAT paid on business purchases
- Eligible input tax credits
Net Position
- VAT payable (if output > input)
- VAT refundable (if input > output)
Return Lifecycle
| Status | Description |
|---|---|
| Draft | Return generated but not finalized — can be edited |
| Ready | All validations passed, ready for submission |
| Filed | Return has been filed with DIR |
| Submitted | Submission confirmed |
| Accepted | DIR has accepted the return |
| Amended | A correction has been submitted for a previously filed return |
DIR Form Fields (L1-L31)
Your return includes all standard Bahamas VAT return lines:
- L1-L5: Sales and output tax
- L6-L10: Purchases and input tax
- L11-L15: Import VAT
- L16-L20: Adjustments and credits
- L21-L25: Net tax calculations
- L26-L31: Summary and payment details
CoralLedger Comply Features
- One-Click Generation - Generate returns from your imported transactions
- Automatic Calculations - All L1-L31 fields computed automatically
- Return Preview - Review totals and validation before filing
- 10-Point Validation - Comprehensive pre-flight checks
- Export Formats - PDF, XML, Excel, and CSV for electronic filing
- Amendment Support - Correct filed returns with change tracking
- Multi-Format Export - Download as PDF, XML, Excel, or CSV
Return Preview & Validation
Before submitting, preview your return with:
- Period summary and totals
- Output VAT, Input VAT, Net VAT breakdown
- Transaction count verification
- 10 validation checks (blocking and warning)
Learn more about Return Preview & Validation.