- The VAT return is a periodic submission to the Tax Administration, providing information on sales and purchases that affect the amount of VAT to be paid or deducted.
- It is a self-assessed tax, so it must be submitted for each period, regardless of the company’s operations.
- Failure to submit, providing incomplete or incorrect information, or submitting late will result in sanctions.
- The tax period is usually one month, but companies can choose one year or a quarter under certain conditions.
- The reporting period must be the same for at least one year.
- For example, a company starting international trade can choose one year as its tax period, but can only change it after one year if the turnover is not expected to exceed EUR 30,000.
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