How do I proceed if I want to deduct input tax from invoices of low-value invoices?
April 29, 2022 | 40,00 EUR | answered by Roberta Schlattmann
Dear Tax Advisor,
I have a question regarding input tax deduction for low-value invoices and hope that you can help me with this. I run a small business and regularly receive invoices from suppliers that show small amounts. So far, I have simply paid these invoices without claiming the input tax deduction.
Now I am wondering if it is possible to claim the input tax deduction even for low-value invoices and how I should proceed. I want to make sure that I am using all opportunities to save costs within the framework of value-added tax and not missing out on any potential tax benefits.
My concern is that I may have paid too much value-added tax in the past by not claiming the input tax deduction for low-value invoices. Therefore, it is important for me to know how I can rectify this and if there is a way to retrospectively claim the input tax deduction for invoices that have already been paid.
Could you please explain to me how I should proceed if I want to deduct input tax from low-value invoices and if this is possible retroactively? Are there any specific requirements or criteria that I need to consider? I would greatly appreciate your support on this matter.
Thank you in advance for your help.
Best regards,
Fred Winterberg
Dear Mr. Winterberg,
Thank you for your question regarding input tax deduction on low-value invoices. It is very important to take advantage of all opportunities to save costs within the framework of value added tax, so it is good that you are considering whether you can claim input tax deduction on low-value invoices.
In principle, it is possible to claim input tax deduction on low-value invoices as well. Low-value invoices are invoices up to an amount of 250 euros (gross). To claim input tax deduction, you must ensure that the invoice contains all required information according to § 14 UStG and that the invoice is issued correctly.
If you have simply paid low-value invoices without claiming input tax deduction so far, you can correct this later. You can claim the input tax from already paid invoices in your VAT pre-registration or declaration. Make sure that you can only claim input tax if you have actually paid the invoices.
To claim input tax deduction from low-value invoices, you should collect the invoices and record them accordingly in your accounting records. In your VAT pre-registration or declaration, enter the total amount of input tax from the low-value invoices. Please note that there are special requirements and criteria that you must consider in order to correctly claim input tax deduction.
I recommend that you also contact your tax advisor to ensure that you correctly claim input tax deduction from low-value invoices and do not miss out on any potential tax benefits. Your tax advisor can also assist you with the retrospective claiming of input tax deduction and provide you with further tips and recommendations.
I hope that this information has been helpful to you. If you have any further questions, please feel free to contact me.
Best regards,
Roberta Schlattmann
