Those who are included in the normal VAT scheme those of you who do

• taxable transactions or
• tax-exempt transactions for which you are entitled to deduct tax

it is mandatory that you submit a VAT return for each tax period regardless of whether the balance of your statement is debit, credit or zero.

When and how do you submit the VAT return
 

The closing date for VAT returns submission is  the last working day of the following month from the end of each tax period.

More precisely, you should submit the return:

• monthly those who are obliged to keep records and issue data based on the full accounting standards (double-entry) and the state when carrying out activities for which they are subject to tax,
• quarterly those who are obliged to keep books and issue data based on simplified accounting standards (single-entry) or are not obliged to keep books and issue data.

To complete the declaration you will need to use the  Form 050.

Remember:

For more information on the submission of the VAT returns see  here.

You should know that:

Overdue declarations, initial or amending, are charged with interest and incur the fines provided for by the Code of Fiscal Procedure.
 

When and how do you pay the VAT

1. If the result of the declaration is debit:

Payment of tax is made in time until the last working day of the month of submission of the declaration.

If the tax is more than 100 euros, you can pay the amount in two equal installments as long as you fill in the relevant code in the VAT return if the declaration is in time.

In this case, the final payment date of the second installment is the last working day of the following month from the month of timely submission of the VAT return.

2. If the result of the declaration is credit:

If the result of the declaration is credit you have two options:

• either transfer the credit balance to the VAT return of the next period,

• or apply for a refund.

Learn that:

The refund request is made electronically. When submitting the VAT refund you will need to fill in code 503 of the declaration, indicate in code 507 the reason for the return and at the same time fill in bank and bank account details.

You should know that:

The refund of the credit balance is likely to require a check by the tax office.

Do not omit to:

• Fill in your IBAN account number, to which you wish to have the amount of the refund deposited, if there are no other debts.

If you have debts:

• These are automatically offset by the competent tax office. If there is a residual amount to be refunded then you should apply stating your IBAN account number.

For more information see the

"Frequently asked questions/answers for VAT-VIES".