Can I correct the sales tax return at a later date?
March 11, 2022 | 40,00 EUR | answered by Quentin Reuter
Dear tax advisor,
My name is Heike Evers and I have been running a small online trading company for some time now. In the past, I have always prepared my VAT returns on my own without seeking professional help. However, I have recently discovered that I made some mistakes in my last VAT return. For example, I forgot to include an invoice and as a result, I miscalculated the VAT.
I am worried that I may be at risk of high penalties or fines as a result. Therefore, I am wondering if it is possible to correct the VAT return retrospectively. Is there a deadline by which I can still rectify any errors? What documents or evidence do I need to provide for this? And what consequences could I face if I do not correct the errors in a timely manner?
I would be very grateful if you could assist me with this issue. I want to ensure that my VAT returns are accurate and that I do not encounter any legal problems. I would greatly appreciate your support and expertise.
Thank you in advance.
Best regards,
Heike Evers
Dear Mrs. Evers,
Thank you for your inquiry regarding the correction of your sales tax return. It is understandable that you are concerned that incorrect information could lead to financial consequences. I would like to help you and provide you with some information on this topic.
In principle, it is possible to correct a sales tax return that has already been submitted. There is no specific deadline for this, but errors should be corrected as soon as possible to avoid possible sanctions. The corrected sales tax return is then referred to as a "correction".
To correct the sales tax return, you must submit a corrected sales tax pre-registration. In this pre-registration, you must correct the incorrect information and provide the correct values. Additionally, you should include an explanation of the corrections to explain the reasons for the errors to the tax office.
It is important to have all relevant documents and evidence ready for the correction. This includes, for example, the corrected invoice, payment receipts, evidence for incorrectly claimed input tax amounts, and other relevant documents. You should be able to present these to the tax office upon request.
If you do not correct errors in your sales tax return in a timely manner, various consequences could arise. These include, among other things, tax repayments, interest on late payments, as well as possible fines or penalties.
I strongly recommend that you correct the errors in your sales tax return as soon as possible to minimize financial risks and avoid legal problems. If you are unsure about how to make the corrections, I recommend seeking assistance from an experienced tax advisor who can support you through this process.
I hope that my information is helpful to you and that you can submit accurate sales tax returns in the future. If you have any further questions, please do not hesitate to contact me.
Sincerely,
Quentin Reuter
