Automatic Preparation of VAT Declarations and Annexes in Business Central.

The AB LV VAT solution supports value-added tax accounting and VAT return preparation in accordance with the Latvian VAT Law and State Revenue Service requirements. 

VAT declarations and annexes are generated from Business Central VAT accounting settings, posted VAT entries, posting group combinations and document data.

The Solution Includes:

• preparing VAT declarations in Business Central;
• declaration structure compliant with the State Revenue Service format; 
• preparing VAT declaration annexes; 
• preparing VAT Annex 1, Parts I, II and III; 
• preparing VAT Annex 2 for transactions with EU customers; 
• preparing data for submission via the State Revenue Service EDS.

Business benefits:

• Faster VAT declaration preparation.
• Less manual data consolidation.
• A more transparent VAT data preparation process.
• Create declarations and annexes using VAT entries already in the system.
• Better oversight of VAT processes before submission through the State Revenue Service EDS.