Small business owners above revenue limit
August 9, 2021 | 25,00 EUR | answered by Steuerberater Knut Christiansen
I am a small business owner in my first year. What happens if instead of the 22,000€, I have double the revenue? Do I have to pay the sales tax for the whole year then?
I will probably exceed the limit by the end of this month. Is there a way that I can start paying sales tax from next month? I can't just close my business for half a year.
What would you recommend to me?
Kind regards
Hello,
in principle, it is not a problem if your turnover unexpectedly exceeds the annual limit of 22,000 EUR. You could therefore continue to avail of the small business regulation until the end of the year, but will automatically become liable for VAT from January 1, 2022. You will not be separately requested by the tax office, but will have to independently include VAT in your prices from January 1, 2022. It still makes sense to inform the tax office before the end of the year that you have exceeded the turnover limit in 2021 and will become liable for VAT from 2022. The tax office will then inform you of the frequency with which you need to submit VAT returns.
I hope this answers your question, otherwise feel free to reach out again.
Best regards,
Knut Christiansen
Tax advisor
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