Generating a VAT Return Report Each European country has specific requirements for its value added tax (VAT) Return. Therefore, you must specify the type of information that is contained on each line of the VAT Return Report. Select Tax Setup > VAT Setup > VAT Return Report. Specify this information: Tax Entity Select a tax identity ID number. Tax Year Specify the tax year. Tax Period Specify a tax period range. Report Identification Specify the reporting information. VAT Reverse Indicator Click OK.