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November 29, 2022

Hello there, stef. I'll be happy to share information about VAT (Value Added Tax) in QuickBooks Online.

 

Please know that the rules on how to tax a product or service can change depending on what you sell and where you sell it. 

 

In your case, petrol or fuel is a zero-rated supply. Although, the VAT rate is charged at 0%, goods and services classified as 0% or zero-rated VAT are nonetheless subject to taxation. Sometimes the discounted pricing is available only under specific conditions or depending on the customer.

 

If you’re unsure which tax category to assign, you can ask your accountant for help. They have the best insights into what tax categories your items need. If you don’t have one, you can check our ProAdvisor page to help you find one from there.

 

You can also refer to the following articles on how to manage the VAT category for your products and services and apply it to your transactions and other sales forms:

 

 

Once you're ready to file your VAT return and record your tax payment, you can refer to this article for the detailed steps: File your VAT return and record tax payments in QuickBooks Online.

 

Feel free to post a comment below if you have any additional information or clarification. I'll be around to assist you. Take care!