Output Tax Statement to be Submitted by Taxpayers with Annual Turnover Between MVR 20 million and MVR 30 million

GST registered persons whose annual turnover is less than MVR 30 million and more than or equal to MVR 20 million, are required to submit their Output Tax Statement along with the GST Return from 1 January 2017. When submitting the GST Return for taxable periods beginning on or after 1 January 2017, taxpayers with an annual turnover of less than MVR 30 million and more than or equal to MVR 20 million must submit an Output Tax Statement, along with the Return. This date was determined in an amendment to the previous dates decided for taxpayers with annual turnover of less than MVR 30 million to submit Output Tax Statements, brought through the Tax Ruling issued on 24 November 2016.

It was previously, decided that taxpayers whose annual turnover is less than MVR 30 million and more than or equal to MVR 10 million, should submit an Output Tax Statement from 1 January 2017 onwards. However, with this change, the above category has been divided into two groups, in which taxpayers with an annual turnover is less than MVR 20 million and more than or equal to MVR 10 million, is given an extension of 6 months in preparation to submit Output Tax Statement. Taxpayers whose annual turnover is less than MVR 20 million and more than or equal to MVR 10 million must submit their Output Tax Statement from 1 July 2017 onwards. As was previously decided, taxpayers whose annual turnover is less than MVR 10 million should submit Output Tax Statement from 1 January 2018 onwards.

The Output Tax Statement was decided as one of the documents to be submitted along with the GST Return by Tax Ruling TR-G23/2015 issued by MIRA on 5 February 2015. However, instead of making it compulsory for all taxpayers to submit the Statement at once, taxpayers were divided into different categories based on their turnover, and MIRA decided a different deadline for each category to submit their Output Tax Statement. Taxpayers with annual turnover of more than MVR 30 million already submit the Output Tax Statement with their GST Returns.

Taxpayers must submit their Output Tax Statement through MIRA online portal ‘MIRAconnect’. The login details will be emailed to the MIRA registered email address of the taxpayer. Output Tax Statement format and instructions to complete Output Tax Statement are available from MIRA website.

29 Dec 16