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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 within 21 days after the end of the tax period (14 days for large taxpayers with annual turnover ≥ $5M). The deadline varies by period — it is not a fixed calendar date.

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
  • Input tax apportionment for businesses with mixed taxable and exempt supplies

Net Position​

  • VAT payable (if output > input)
  • VAT refundable (if input > output)

Return Lifecycle​

StatusDescription
DraftReturn generated but not finalized — can be edited
ReadyAll validations passed, ready for submission
FiledReturn marked as filed after you submit via OTAS
AmendedA correction has been submitted for a previously filed return
note

The "Filed" status is manually marked by you after submitting via the DIR's Online Tax Administration System (OTAS). CoralLedger Comply does not currently receive direct confirmation from the DIR.

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
  • Calculated Fields - All L1-L31 fields computed from your transaction data
  • 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.

Filing Modes​

CoralLedger Comply supports two filing modes:

  • Self-Filing — You manage and submit your own VAT returns directly to the DIR. See Self-Filing Mode.
  • Firm-Managed — An accounting firm manages filing on your behalf through the Firm Portal.

Next Steps​