What deadlines apply for submitting the advance turnover tax return?
October 14, 2023 | 40,00 EUR | answered by Günther Hering
Dear tax advisor,
my name is Ingo Eberstark and I run a small online trading company. In recent months, I have been dealing intensively with the topic of value added tax, as I have already received some warnings and am very concerned about my tax situation.
My main concern is regarding the submission of the VAT return. I know that it must be submitted regularly and on time to avoid penalties. However, I am unsure about the specific deadlines and what happens if I fail to meet them.
So far, I have always prepared the VAT return myself, but due to the complexity and the impending consequences of missing deadlines, I am considering whether it would be more sensible to engage a professional tax advisor like you.
Could you please explain to me exactly what deadlines apply for submitting the VAT return? What are the consequences if I do not meet these deadlines? Are there any ways to still react in time in case of missing a deadline?
I thank you in advance for your support and look forward to your expert advice.
Kind regards,
Ingo Eberstark
Dear Mr. Eberstark,
Thank you for your inquiry regarding the VAT pre-registration and your concerns regarding your tax situation. It is understandable that you are worried, as submitting the VAT pre-registration is an important part of accounting and missing deadlines can lead to unpleasant consequences.
The VAT pre-registration is usually due by the 10th of the following month. This means that the VAT for the previous month must be reported and paid by the 10th of the current month. For example, you must submit the VAT pre-registration for the month of January by no later than February 10th.
If you fail to meet this deadline, the tax office may charge default interest and in the worst case even impose late payment penalties. These additional costs can negatively impact your financial situation. Therefore, it is very important to keep track of the deadlines for submitting the VAT pre-registration and to comply with them in a timely manner.
In case of missing the deadline, there is the option to submit a so-called estimation calculation to the tax office. In this case, the tax office estimates the VAT based on your previous turnovers and earnings. Although this is not an ideal solution, as the actual VAT may be higher or lower, it can be a way to avoid penalties.
It is understandable that due to the complexity of the VAT pre-registration and the potential consequences, you are considering hiring a professional tax advisor like myself. As a tax advisor with years of experience in the field of value added tax, I can assist you in preparing and submitting the VAT pre-registration and ensure that all deadlines are met.
I am available to discuss your individual situation and assist you with your tax matters. Please do not hesitate to contact me to schedule a consultation.
Best regards,
Günther Hering
