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CfR Guidelines Issued In Respect Of Late Filing Of Recap Statements

  • New guidelines have been issued regarding administrative penalties for late filing of Recapitulative Statements. These statements are required to be filed by taxable persons when engaging in VAT-exempt Intra-Community Supplies or supplying services in another EU Member State for which VAT is payable solely by the recipient.
  • The deadline for filing is the 15th day of the month following the end of each calendar quarter, unless the supplies exceed €50,000 per annum, in which case monthly filing is required. Failure to file previously resulted in a penalty of €10 per month, capped at €120 per statement, but this has been increased to €50 per month, capped at €600 per statement from April 2023.
  • However, taxpayers have until September 15th, 2023 to file past statements without incurring the new penalties. It is advised that taxpayers review their income streams and past VAT returns to ensure compliance.

Source KPMG


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