Submission of VAT Recapitulative Statement / VIES

Submission of VAT Recapitulative Statement / VIES

You must complete a recapitulative statement, also referred to as VIES in some jurisdictions, to report your selling to customers in other EU countries. 
The requirement to file a recapitulative statement is part of the VAT control system within the EU that monitors commercial operations with goods and services.

Thia guide shows the steps required to prepare the recap statement and submit with authorities.

1) On the Entities screen, you need to click your entity in the Name column which will direct you to the Submission page.


2) Click on the Create Tax Submission button.



3) Then choose the reporting period and the reporting currency for the VAT Recapitulative Statement.



4) Click Generate so as to create the VAT Recapitulative Statement for the selected reporting period and reporting currency.



5) The VAT Recapitulative Statement with the specific boxes for the selected country is displayed - In this example we are using the Cyprus VAT Recapitulative Statement.
Statement tab - shows all the boxes, values , output computed tax and totals



6) Transactions tab - includes all transactions from the accounting software which need to feature in the VAT Recapitulative Statement. This list can be filtered and exported to carry out any investigations.
You may open a transaction in the accounting software by using the Xero button next to the transaction.



7) The Xero button opens the transaction in the accounting software (Xero in this case).



Notes
Click here to learn more on the mapping of VAT Recapitulative Statement / VIES.
Idea
Success! You have submitted the VIES.




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