What deadlines apply for claiming input tax?
May 30, 2024 | 40,00 EUR | answered by Roberta Schlattmann
Dear tax advisor,
My name is Petra Dietrich and I run a small business that became liable for sales tax for the first time last year. I have never claimed input tax before and I am unsure about the deadlines I need to consider.
My current situation is as follows: I have received invoices from suppliers that show sales tax. I have all the necessary documents and receipts to claim the input tax. However, I am not sure if I am already too late or if I still have time to do so.
My concern is that I may be giving away money by not claiming the input tax in a timely manner. I would like to know if there are specific deadlines by which I need to claim the input tax in order to avoid any disadvantages. Are there perhaps also ways to extend the deadlines if I have already missed them?
I would greatly appreciate your help and advice on this matter. Thank you in advance for your support.
Sincerely,
Petra Dietrich
Dear Mrs. Dietrich,
Thank you for your inquiry regarding the claiming of input tax in your small business, which became subject to VAT for the first time last year. It is good that you are thinking about this, as input tax can have a significant impact on the amount of tax you owe. I will now explain in detail the deadlines you need to observe and how you should proceed.
In principle, you must claim input tax in the reporting period in which the service was provided or the invoice was issued. There is no general extension possibility if you have already missed a deadline. Therefore, it is important that you specify the input tax in your VAT return promptly to avoid any disadvantages.
You must usually submit your VAT return to the tax office on a quarterly basis. The details of the input tax must be submitted by the 10th day of the second month following the reporting period. For example, if you want to claim input tax for the first quarter, you must do so by May 10th.
It is important that you carefully keep all necessary documents and receipts in order to correctly claim the input tax. This includes invoices from suppliers that show the VAT amount. You should also ensure that the invoices contain all legally required information.
If you miss the deadline for claiming input tax, you can try to make a correction to your VAT return. However, this is associated with increased bureaucratic effort and there is no guarantee of success. Therefore, it is advisable to keep an eye on the deadlines and claim the input tax in a timely manner.
I hope this information helps you and I am happy to assist you with any further questions. Please do not hesitate to contact me if you need further support.
Best regards,
Roberta Schlattmann
