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Monthly VAT return | Quarterly VAT return | Annual VAT return |
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If the VAT for the previous calendar year amounts to more than € 7,500, VAT returns are to be submitted on a monthly basis in the current year. | If the VAT for the previous calendar year amounts to less than € 7,500, VAT returns are to be submitted on a quarterly basis in the current year. | If the VAT for the previous calendar year amounts to less than € 1,000, an exemption from the obligation to submit preliminary VAT returns is possible. If the tax office grants this exemption, only an annual VAT return is to be submitted. |
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In case of a quarterly VAT return, it is important to note that the ERP reports still have to be imported into the VAT@GTC once a month. Anyhow, plausibility check can be performed also for quarterly VAT returns. |
Moreover, the period should be regarded as the basis for all further master data in the VAT@GTC as the master data is organised on an accrual basis per individual period. For that reason, master and transaction data have to be assigned to a specific period. It is possible to copy all master data from the previous period when creating a new period. It is therefore recommended to create periods successively, i.e. create the corresponding period only when you create a certain VAT return.
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