What risks does an improper sales tax declaration pose?
June 22, 2023 | 40,00 EUR | answered by Lina Sauer
Dear tax consultant,
I am Konrad Werner and I run a small business that is increasingly offering online services due to the current situation. Since I have no experience with VAT returns in the past, I am unsure whether my previous declarations were correct and what risks a faulty VAT return may entail.
I have realized that filing a VAT return is an important obligation that must be submitted regularly. I am unsure if I have taken into account all relevant VAT types and if my information was correct. I am concerned that an improper VAT return could lead to legal consequences such as fines or even the loss of my business.
Therefore, I would like to know from you what specific risks an improper VAT return poses and how I can avoid them. Are there specific deadlines that I need to adhere to? What documents and information are required for a correct VAT return? Are there potential sanctions if errors are found in the VAT return?
I look forward to your expert advice and support on this matter.
Thank you in advance.
Best regards,
Konrad Werner
Dear Mr. Werner,
Thank you for your inquiry regarding the VAT return for your company, which increasingly offers online services. It is understandable that you are concerned about whether your previous declarations were correct and what risks an incorrect VAT return may entail.
An improper VAT return can indeed lead to legal consequences. Possible risks include fines, interest on late payments, and in severe cases, even a loss of your business. Therefore, it is very important that your VAT return is submitted correctly and on time.
To avoid errors in the VAT return, it is advisable to consult a tax advisor who is knowledgeable in this area. A tax advisor can help you consider all relevant types of VAT and ensure that your declarations are correct. They can also ensure that all necessary documents and information for the VAT return are available.
Regarding deadlines, it is important to note that the VAT return must be submitted regularly. The exact deadlines may vary depending on the company and type of VAT. It is important to meet these deadlines to avoid possible sanctions.
If errors are found in the VAT return, various sanctions can be imposed. These may include fines, interest, or in the worst case, even criminal consequences. Therefore, it is advisable to avoid errors from the outset by consulting an experienced tax advisor.
I hope that this information has been helpful to you. If you have any further questions or need assistance, I am at your disposal.
Best regards,
Lina Sauer
