VAT Return Filing: Reporting your e-commerce Sales

Once you register for VAT in a foreign country, online sellers are required to file periodic VAT returns in the countries where they have VAT registrations.

These are statutory declarations where all taxable transactions which took place in that period must be reported and any VAT liability or refund is calculated. Each country has a unique filing deadline which usually corresponds to the date that any tax liabilities must be paid. Most VAT returns are filed on either a monthly or quarterly basis.

 Failure to submit a VAT return on time or late settlement of a VAT liability will result in penalties being imposed.

 A VAT registered business may appoint an agent to prepare and file the VAT returns on its behalf. In some countries this may be a prerequisite, but even in cases where the company can file the return itself, it is recommended that an agent is appointed owing to the language issues and compliance and reporting complexities.

 VATGlobal offers a comprehensive return filing solution:

• Automated extraction of sales data from Amazon seller’s portal or your accounting software where possible

• Declaration of imports and recover of import VAT

• Preparation of all statutory filings

• Online submission of VAT returns