Guidelines on how to extract a tax return report in Qoyod.
Answer:
To extract a tax return report in Qoyod, follow these steps:
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Determine the tax payment date:
- First, go to Settings and then select General Settings.
- Select Tax Payment Date, where you can set it based on Invoice Issue Date or Due Date.
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Extract the Report:
- After setting the date, go to Reports in Qoyod.
- Select Tax Return Form.
- Select the Period Type for which you want to extract the report (monthly or quarterly).
- Select the Year for which you want to extract the report, then click Search.
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View the Report:
- The Tax Return Form will appear for the selected period.
- Under Sales, you will see Sales Invoices for the selected period, and Adjustment includes Credit Notes for the same period, followed by Tax Due.
- Under Purchases, you will see Purchase Invoices for the selected period, and Adjustment includes Debit Notes for the same period, followed by Tax Paid.
- Tax on Manual Entries will only display the tax amount, and if you need any additional data, it will be calculated manually.
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Calculate Tax Due:
- After deducting Tax Paid from Tax Due, the Total VAT Due for the tax period will be calculated.
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Record Tax with Manual Entries:
- You can record tax using manual entries.
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Recorded Training Course:
- For more clarification, you can follow the recorded training course that explains how to extract the tax return in Qoyod via the following link:
Training Course – Extracting the Tax Return in Qoyod
- For more clarification, you can follow the recorded training course that explains how to extract the tax return in Qoyod via the following link:
Additional Notes:
- Ensure that all invoices and notes have been entered correctly in the system before extracting the report.
- Dates must be compatible with the tax period for which you want to extract the report.
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If you add a manual entry with tax, it won’t appear in the purchase tax report.
However, you can view the total tax on manual entries from:-
Tax Return Report in the section “Tax on Manual Entries”.
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Tax Journal Report shows you the details of the tax on each entry.
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- The “Corrections from Previous Periods” section in the Saudi tax return form means:
Correcting any error or omission in previous tax returns.
If you discover that you submitted an incorrect return in a previous period (for example, you forgot to report tax on an invoice or reported more tax than necessary), you need to make a correction.
Examples:
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You forgot to record a sales invoice in a previous return
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You recorded tax-exempt purchases as taxable
Result: You correct the error in this section in the current return.
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- As for the adjustment section in the tax return, it represents the total credit notes or debit notes before tax for invoices that were returned.
If you want to review and submit the tax return on your behalf
Qoyod VAT Service
In Qoyod’s VAT services, you will receive comprehensive support that ensures your compliance with the General Authority of Zakat, Tax and Customs (ZATCA) requirements. Our team works with J&G professional services, which has extensive experience in preparing and submitting tax returns. You will receive the following:
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Detailed review of the ZATCA return
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Zakat and income return review service. The purpose of this service is to ensure the accuracy and correctness of the data before submitting it to the competent authorities, as well as uploading the return in the correct manner to ensure full compliance with ZATCA.
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Submit ZATCA return
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After the review, we will handle submitting your return through the ZATCA portal at the appropriate time to avoid any financial penalties.
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Detailed review of the tax return
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All details of your company’s tax return will be reviewed to ensure the accuracy and correctness of the information, which will help you avoid potential errors or delays.
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Submit the tax return
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After the review, we will handle submitting your return directly through the ZATCA portal at the appropriate time to avoid any financial penalties.
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Guidelines on how to apply for Qoyod professional services
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Customers can apply for Qoyod professional services automatically for all services except Qoyod Academy through the following steps:
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Click on “Professional Services” in the application.
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Select the required service (VAT service).
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Click on “Contact the Team”.
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Your request will be submitted to the specialized team.
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The specialized team will send you an email to confirm receipt of your request and inform you that they will contact you and send you a quote.
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