Compliance & Filing

Once registered for VAT in a country, you will be required to file periodic statutory declarations. In particular, a VAT return will need to be filed (usually every month or quarter), which summarises all the taxable transactions that your business made in that specific period. 

Every VAT return is different and will have different information requirements and reporting formats. In all cases, you must declare the VAT that you have charged on sales (output VAT) and you are allowed to claim back the VAT you have paid out (input VAT), subject to your taxable activity.

Depending on transactions types and values, your business may have to pay over the VAT surplus to the local tax authorities, or will be eligible to make a claim for a refund.

In addition to periodic VAT returns, there might be other statutory reporting obligations. In the European Union, every time you are involved in the movement of goods between Member States, you will be obligated to report such movements to the EU tax and customs authorities, including EC sales listings (for B2B sales) and Intrastat reports (subject to thresholds).

VATGlobal's One-stop Solution Includes:

Advice on the periodic provision of data

Providing a standard data template

Cloud-based platform for information sharing, reminders and file transfer

Ongoing compliance advice relating to transactional VAT treatment, exchange rates and invoice requirements

Review and analysis of data and underlying documents

Preparation and submission of all statutory reports

Dealing with all correspondence from tax offices