What do I need to consider when submitting my trade tax return online?
January 17, 2024 | 40,00 EUR | answered by Simon Schaaf
Dear tax advisor,
I am Hilde Schmidt and I run a small business in the service industry. So far, I have always submitted my trade tax return in paper form, but now I would like to switch to the digital version. Since I am not familiar enough with the topic, I have some questions and uncertainties.
The current situation is as follows: My company makes a profit of less than 24,500 euros per year, which is why I have been exempt from trade tax so far. However, I have now received new orders and am likely to exceed this threshold. Therefore, I want to prepare everything in time for the submission of my trade tax return.
My concerns mainly revolve around whether I can correctly compile all the necessary documents and information for online submission. I also wonder if I might make mistakes that could lead to incorrect calculations or even a tax repayment. I want to make sure that I consider all relevant aspects and do not overlook any important details.
Therefore, my question to you is: What do I need to consider when submitting my trade tax return online? What information and documents are required? Are there any special considerations I should keep in mind when calculating or filling out the form? What steps should I take in advance to ensure that my trade tax return is correct and complete?
Thank you in advance for your support and expertise.
Best regards,
Hilde Schmidt
Dear Mrs. Schmidt,
Thank you for your inquiry regarding the online submission of your trade tax return. It is understandable that you may have uncertainties, especially if you have only used the paper form in the past. I will be happy to provide you with all the relevant information so that you can submit your trade tax return correctly and completely.
First of all, it is important to know that trade tax is a tax levied on the profits of businesses. If your business makes a profit of less than 24,500 euros per year, you were previously exempt from trade tax. However, once your profit exceeds this threshold, you become liable for trade tax. In your case, since you have received new orders and are likely to exceed this threshold, it is important to prepare for the submission of your trade tax return in a timely manner.
For the online submission of your trade tax return, you will generally need the same documents as for the paper form. These include your profit and loss statement, your balance sheet, and other business documents such as your VAT returns. It is important that all information is correct and complies with legal requirements. If you have any uncertainties, I recommend consulting a tax advisor to avoid errors.
When submitting your trade tax return online, make sure that all relevant fields are correctly filled out. It is important to consider all income and expenses of your business and to take into account any special circumstances such as depreciation or provisions. Additionally, make sure to attach all necessary attachments and evidence to support your information.
To ensure that your trade tax return is correct and complete, it is important to keep careful records and organize all relevant documents properly in advance. It may also be helpful to familiarize yourself with the topic of trade tax early on and seek professional help if necessary.
I hope this information is helpful to you and I am available if you have any further questions.
Best regards,
Simon Schaaf
