When must the input tax return be submitted?
January 20, 2022 | 40,00 EUR | answered by Marco Schottmann
Dear tax advisor,
My name is Lilli Völker and I am a self-employed entrepreneur. I have a question regarding the input tax declaration and I hope that you can assist me.
I am currently somewhat uncertain about when exactly the input tax declaration must be submitted. I recently received a delivery of machinery for my business and would like to claim the input tax. However, I am not sure whether I need to submit the input tax declaration monthly, quarterly, or annually.
I want to ensure that I fulfill all my tax obligations correctly and do not miss any deadlines. I also want to avoid potentially submitting the input tax declaration too late or too early, which could result in tax disadvantages.
Could you please explain to me in more detail when the input tax declaration must be submitted and what deadlines I need to adhere to? Are there possibly any special regulations for small business owners like myself? I would greatly appreciate your guidance to ensure that I fulfill my tax obligations correctly.
Thank you in advance for your help!
Kind regards,
Lilli Völker
Dear Mrs. Völker,
Thank you for your question regarding the input tax return. It is important that you fulfill your tax obligations correctly to avoid any potential disadvantages. I am happy to explain to you in more detail when the input tax return must be submitted and which deadlines you should keep in mind.
In general, entrepreneurs who are entitled to input tax deduction must regularly submit an input tax return. The input tax return is a summary of all input tax amounts that you wish to claim in the respective period. Input tax pertains to the value-added tax that you have paid for business expenses and that you can reclaim from the tax office.
The deadlines for the input tax return depend on the type of your business and the turnover. As a small business owner, you may have special regulations to consider. Small business owners according to the VAT Act are entrepreneurs who generated a turnover of up to a maximum of 22,000 euros in the previous year and are expected to not exceed 50,000 euros in turnover in the current year.
For small business owners, there is usually a quarterly advance registration obligation. This means that you must submit your VAT advance return and input tax return every three months. The exact deadlines may vary depending on the federal state, so it is important to inform yourself accurately.
If you want to submit the input tax return for the entire year, as a small business owner you usually have until May 31 of the following year. However, it may be useful to regularly submit the input tax return quarterly to have a better overview of your tax obligations.
I recommend you to get in touch with your tax advisor to discuss your individual situation and ensure that you comply with all deadlines and regulations correctly. Your tax advisor can also help you correctly complete the input tax return and optimize potential tax benefits.
I hope that this information could be helpful to you. If you have any further questions, I am at your disposal.
Best regards,
Marco Schottmann
Tax Advisor
