Sales tax return (VAT)
As an entrepreneur, you must complete the turnover tax return (VAT return) once a quarter. During the sales tax return, you state the VAT that you have charged your customers. You can also get the input tax back.
The costs for a turnover tax (VAT) return
4x VAT Tax Return
Package, 1 company-
Only in combination with income tax return
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Submitting the VAT return
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Reminder and control
Reliable
We take the time for your Tax declaration. This naturally starts with an extensive intake online of true the phone and asking the right questions.
Fast response
We respond within 24 hours. In addition, you always have contact with one person from the beginning until after submitting the tax return.
Clear and understandable
One Day Finance's advisers communicate clearly and comprehensibly. You choose whether to make an appointment to go through your tax return or not.
National and completely online
Our help with your tax return is national and fully digital. No expensive passed on office costs and a fast service! And you notice that, response within 24 hours and time and attention for your tax return as a private individual or entrepreneur.
The time we gain with working digitally is spent in the attention and time with our customers. When you submit your income tax return to us, we always start by creating a clear outline of your profile and our personal service also makes the difference for submitting the tax return.
Our Guarantees
- Fixed prices
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- Both for Entrepreneurs and Individuals
- Personal sparring partner
- Completely digital
- Always a response within 24 hours
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More about our support
One Day Finance takes the time to help you with your income tax return. We always respond within 24 hours. In addition, when submitting your tax return, you always have contact with one tax advisor from start to finish.
An intake online or rather personal contact?
Here at One Day Finance we understand that everyone has their own preference for communicating. One would like a personal conversation and the other would like to deliver his data as quickly and optimized as possible.
We need a number of information to prepare a 2021 income tax return. Based on this information, we can complete a correct tax return and request the correct documents.
Do you opt for first personal contact or do you opt for an online intake?
What is VAT and how does it work?
As an entrepreneur, you calculate VAT on your turnover. The percentage depends on which service or good you provide. You calculate the price based on the value of the goods or services you sell. You file a VAT return per month, quarter or per year. You usually file your VAT return on a quarterly basis. You can often deduct VAT that you pay yourself on business expenses.
The VAT applies to most entrepreneurs, specific branches are exempt from VAT or have a different percentage. E.g. 0% or 9% instead of the standard 21% VAT. If you have less than € 20,000 in turnover per calendar year, the small entrepreneurs scheme (KOR) is also an option.
What should you take into account if you want to deduct VAT?
In most cases you can deduct the VAT, but you have to take into account a number of rules and conditions. VAT on costs for exempt and/or non-taxed supplies of goods and services are not deductible. This is also known as ‘deduction as input tax’.
In your administration you must keep a good record of which VAT you have received and paid. You may not deduct VAT on some items. For example, think of
- private purchases
- expenses you incur for exempt turnover.
- expenses you incur for non-taxable turnover (e.g. subsidies)
- food and drink in the catering industry.
- employee benefits, gifts and business gifts (of more than € 227 per person per year)
Deduct VAT and a business car
Are you going to buy a car that you will use for both business and private purposes? Then you have to choose whether you consider this car part of your business or private assets. This is also known as mixed use. There are 3 options, namely you do not deduct any VAT at all, you deduct VAT for the part that you will use for business or you deduct the VAT completely in March and pay VAT for private use at the end of the year.
If you count the car as your business assets, you can deduct the VAT on the purchase, maintenance and use insofar as the car is used for taxed turnover.
If the car belongs to private property, you can deduct the VAT on maintenance and use, insofar as the car is used for tax turnover. It is then important that you keep a good mileage administration. From this comes a ratio, or a percentage. You can then deduct the VAT for the percentage of business kilometers.
What should be on your invoice?
If the amount is less than €100 including VAT, you need to provide less information. But if the amount is higher than € 100, – you must state the following.
- full name and that of the customer.
- full address and that of the customer.
- VAT identification number
- if you are registered with the Chamber of Commerce: the Chamber of Commerce number
- the date on which the invoice was issued.
- an invoice number
- If you deliver goods: what kind of goods you have delivered and how much.
- if you provide services: what kind of services you have provided and their scope.
- the date on which the goods or services were delivered, or the date of an advance payment.
- the amount you request, excluding VAT.
- the VAT amount
- do you supply goods or services with different VAT rates? In that case, state the separate amounts.
Administration and VAT
There are specific rules about keeping and keeping records. As an entrepreneur you are obliged to do this. This must be verifiable for the tax authorities. The administration must clearly show how much VAT you have to pay VAT and how much VAT you reclaim from the tax authorities.
You must keep your administration for 7 years. This can be done both digitally and on paper. If you have a website, you must also state your VAT identification number on it.
You are obliged to check your customer’s VAT identification number. You can check a customer’s VAT identification number on the European Commission’s website. You can also check the name and address details. A confirmation can also be downloaded for the tax authorities. Click here to go to the European Commission website.
Reclaim VAT for solar panels
As a private individual, you can reclaim VAT for solar panels if you buy them for the 1st time. You must do this within 6 months after the year in which you bought the solar panels. More about the return of solar panels can be found on the website of the tax authorities.
As an entrepreneur you can also reclaim VAT for your solar panels, you do this in the normal VAT return. As with private individuals, you cannot use fixed amounts, but you have to make a calculation yourself. An example declaration can be seen on the website of the tax authorities.
Can you also reclaim VAT from another EU country?
This depends on the Member State where you pay the VAT. If you already file a tax return in that country, you can request a refund via that EU country. If you do not file a VAT return in the other EU country, you can do so via a special website of the tax authorities.
If you do this after the end of a calendar year, you must be able to reclaim at least €50 in VAT. If you do this in a calendar year, the amount must be at least €400,-. If you request a lower amount back, the EU country can decide not to process the request. You will receive a message from the tax authorities within 4 months.
