VAT - Value Added Taxes Services
Vanuatu has no form of income tax on salaries or business profits, however, a Value Added Tax is collected by the Vanuatu Government. VAT is similar to the United Kingdom and New Zealand VAT Tax and in Australia the Goods and Services Tax.
All Vanuatu Businesses with a Turnover (sales) of over VT5 million (approximately US$50,000) are required to pay a 15% tax to the Government on their sales. The tax is included in the purchase price to the final buyer of the product or service. The VAT legislation allows the refund of VAT paid on all supplies.
The VAT System is an important part of the Vanuatu Government revenue strategy and therefore having ICOUNT prepare your returns to the Customs and Inland Revenue Department can provide you more time at your business or enjoying life in Vanuatu.
Let us take care of this function for you. Be it monthly or quarterly VAT returns, preparation and lodgement of this can be time consuming and complicated. Our team can help you with the end to end process, right from registering your business for VAT, filing of returns and attending to queries from the VAT office when and should your business be selected for a audit. Talk to us today for a fixed monthly quote regarding the following services.
Taxation and Filing
• Filing of VAT Returns
• Payment VAT, Duty, Excise tax
• Coordination and Support for VAT Audit
If you need to get registered for VAT or interested in a proposal for VAT preparation and advisory services, please fill out the form below and the ICOUNT Team will get right back to you.
Vanuatu isn’t just a beautiful island paradise; it’s a business paradise too.