VAT Return: Declaration Tab

 

Under this tab, VAT details are displayed along with the information about the taxpayer and the tax authorities. Fields under this tab are completed automatically with the data from certain sales and purchase documents (Invoice, Purchase invoice, Debit note, Credit note and Manual transaction), company and tax office details. To fill in the fields, you click the Fill button in the General area.  You are forbidden to fill them in manually. Also, you cannot modify the data in the fields.
 
The Return/Declaration tab comprises the following sections and its fields:
 
Taxpayer Information
 

Field

Used for displaying

Taxpayer

Your VAT-registered business: the name displayed in this field is entered in My company settings.

Business ID

Your Business ID. The ID is required to assign the information provided in the VAT Return to the taxpayer.

Received date (Submission date)

  Date when the VAT Return is to be submitted to the tax authorities.
 
VAT on Domestic Sales

VAT on domestic sales of goods and services is provided in this section by tax rate. It is added as a line item including the following fields:   


Field

Used for displaying

Rate, %

VAT rate in % at which the VAT has been charged.

Amount

The VAT amount charged at the specified rate.

 
VAT on Purchases
 

Field

Used for displaying

VAT on goods purchased from other EU Member States

VAT charged on goods purchased from other EU Member States. Such purchases are regarded as intra-Community transactions and are subject to special taxation regulations. The VAT amount is worked out the following way: purchase price (Ex VAT) is multiplied by the domestic VAT rate applicable to the purchased goods.

VAT on services purchased from other EU Member States

VAT charged on services purchased from other EU Member States that are subject to reverse charge. When reverse charge mechanism is applied, VAT is paid in your country.

The VAT amount is calculated as follows: the price (Ex VAT) multiplied by the applicable domestic VAT rate.

VAT on purchases of construction services and scrap metal (reverse charge)
  • VAT on purchases of construction services and scrap metal that are subject to reverse-change VAT.
  • VAT payable for employee leasing fees serving construction activities.

Note!
If purchased metal is levied VAT according to the scheme of charging VAT on goods purchased abroad, the VAT amount is entered in the field VAT on goods purchased abroad.
 
Deductible tax/VAT


Field

Used for displaying

VAT deductible for the tax period

The total VAT amount that is deductible for the period.

Note!

Deductible VAT is the VAT payable on goods and services purchased for the purposes of your business.  

Do you qualify for VAT relief for small businesses option

  

Amount of VAT relief

If your business qualifies for VAT relief, VAT relief amount is calculated and displayed in this field.

Tax payable/ negative tax that qualifies for refund (-)

Final VAT amount to be paid or refunded for the period. Amount to be refunded is entered with a minus sign.

The amount is worked out as follows:

The domestic-selling VAT + VAT on goods and services  purchased abroad + VAT for purchases of construction services and scrap metal - deductible VAT - VAT relief (if you are entitled to one)
 
Sales and Purchases


Field

Used for displaying

Turnover taxable at zero VAT rate

Sales turnover taxable at the zero VAT rate for which you are entitled to deduct the input VAT.

Sales of goods to other EU Member States

The total amount of the intra-Community sales of goods to other EU countries to VAT-liable buyers.

Cross-border sales to consumers are not regarded as tax-exempt intra-Community sales. They have to be recorded as domestic sales.   

Sales of services to other EU Member States

The total value of services sold to other EU countries to VAT-liable buyers. Services whose value is reported in this field are subject to reverse charge.

If such services are VAT-exempt in the EU country to which they are sold, the sale is not entered in this field. Instead, it is reported in Turnover taxable at zero rate.

Sales to consumers or to business operators, who are liable to pay VAT and do that in other EU countries under special provisions,  are not reported in this field.

Purchases of goods from other EU Member States

The total price paid for goods purchased from other EU countries (regarded as intra-Community transactions) including acquisitions that are VAT-exempt.

Purchases of services from other EU Member States

The total price of services purchased from other EU countries to which the reverse-charge scheme is applicable.

Sales of construction services and scrap metal (reverse charge)

If your business sells construction services, this field displays the total value of such services sold (to which reverse-charge mechanism applies).

Purchases of construction services and scrap metal (reverse charge???)

The total value of construction services purchased that are subject to reverse-change mechanism.
 
Contact Person
Unlike other details, taxpayer’s contact details are to be provided manually.
 

Field

Used for

Name

Select the taxpayer’s contact person from the list of contact persons.

Phone number

The telephone number of the contact person. It is provided automatically once you select the contact person.

 
Tax Administration Bank Account Number
 
Tax Administration bank accounts to which payments are to be submitted are added automatically as line items made up of the following fields:


Field

Used for displaying

Bank

A bank which maintains a bank account to which payments are to be made.

IBAN

The account’s IBAN number.

BIC

The bank’s BIC code.

 
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