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)
CoralLedger Comply Features
- One-Click Generation - Generate returns from your imported transactions
- Automatic Calculations - All totals computed automatically
- Return Preview - Review totals and validation before filing
- 10-Point Validation - Comprehensive pre-flight checks
- Export Formats - PDF, CSV, and XML for electronic filing
- Amendment Support - Correct filed returns when needed
- Payment Tracking - Record and track VAT payments
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.