Download Saudi VAT Payable Calculator Excel Template

Contents

Popular Categories in Excel Template
Trednding in Excel Template

Homeschool Attendance Sheet

It may seem unnecessary to track homeschool attendance. After all, you know when you educating …

Read More

Daily Expense Sheet

Daily Expense Tracker Excel Everyone responds to their personal debt differently. Some of us are …

Read More

Travel Expense Report

Following my travel request form for requesting advance needed for business travel. This Travel expense …

Read More

Home Budget

How to Save money for future by Using Free Home Budget Excel Template Home Budget …

Read More
Search
Generic filters

Saudi VAT Payable Calculator is use to easily calculate VAT payable liability by just entering details of purchase and sales.

According to Article 45 related to Calculating Tax mention in Value Added Tax – Implementing Regulations of Saudi VAT Law:

Thus, VAT Payable = Output Tax – Input Tax. 

Article 45 – Calculating Tax (Value Added Tax Regulations – Saudi VAT)

We pay VAT when we purchases and collect VAT when we sell. VAT paid on the purchase is our Input Tax and VAT collected on sale is our Output Tax.

According to VAT Law, a taxpayer is eligible to claim input on purchases of the goods or services used for taxable supply. It is also called recoverable input tax.

A taxpayer to pay VAT at the time of import of goods. This VAT is paid under Reverse Charge Mechanism.

Considering the above points, we have create Saudi VAT Payable Calculator template with predefine formulas.

Just enter the details of sales, purchase, sales return, purchase return, imports, and exports and it will automatically calculate VAT payable to Tax Authority.

Contents of Saudi VAT Payable Calculator

Saudi VAT Payable Calculator consists of 4 sections:

  1. Header
  2. Input VAT Section
  3. Output VAT Section
  4. Summary Section

1. Header

Usually, the header section consists of the supplier.

In addition to the above, you have to enter the Tax period for which you want to calculate VAT liability.

2. Input VAT Section

Input VAT section consists of following 4 columns.

Firstly Input VAT, second is VAT %, third is Taxable Value and fourth is VAT amount.

You need to enter respective amounts of items in the respective cells.

In VAT % column, enter the vat percentage applicable. VAT is 5 % in general. However you need to enter 0% if the purchases are zero-rated.

Taxable value is the total of each head from the books of accounts. VAT amount is calculate using the following formula:

VAT Amount = Taxable Value X VAT %

3. Output VAT Calculation Section

Similar to the input VAT section, the Output VAT section has the same four columns.

Enter the respective amounts in cells and it will automatically sum up for you. Subtotal of both Input VAT Section and Output VAT Section is given at the end of sheet.

4. Summary Section

The summary section has the final calculation of VAT that is Output Tax less of Input Tax as per Article 45.

VAT Payable (B-A) = Total of Output VAT (B) – Total OF Input VAT (A)

In case amount of VAT payable is negative then it means that you have balance with the tax authority and this balance can be carried forward to next tax period.

Download Saudi VAT Payable Calculator Excel Template

To use this free Excel Template, you should have Microsoft Office/ Microsoft Excel. You can only use this template if you have these applications in your system. or Use, Google Sheets. 

After installing Excel or Spreadsheet, download the xlsx file of this template to use it

Once extracted, you can open the file using Excel and start entering data or customizing the template.

Click The Button Below To Download Saudi VAT Payable Calculator Excel Template

Instruction :

All Excel templates and tools are sole property of xlsxtemplates.com. User can only download and use the excel templates for their Personal use only. All templates provided by XLSX templates are free and no payment is asked. However, you are not allowed to distribute or share in any other website for sole purpose of generating revenue from it.

 You can also download and use our 1000 Best PowerPoint Presentation Templates and 500 Resume Samples from PPTXTemplates.com  Completely Free. All our templates are designed by Professionals

Popular Excel Templates: