​Step 1: Determine VAT Registration

Before filing VAT returns, confirm whether your business requires VAT registration in a particular EU country. House of Companies offers expert advice to determine the need for VAT registration based on your business activities and locations.
 

Step 2: Maintain Accurate Records

EU VAT compliance necessitates meticulous record-keeping. Your records should include:

 

1. Sales invoices.

2. Purchase invoices.

3. Import/export documentation.

4. VAT paid and collected.
    

Step 3: Calculate VAT Liability

VAT liability involves:
 

1. Output VAT: VAT charged to customers.

2. Input VAT: VAT paid on business expenses.

3. Subtract input VAT from output VAT to determine your liability. A positive balance means you owe VAT to the tax authority, while a negative balance results in a refund claim.
    

Step 4: Submit VAT Returns

VAT returns are typically submitted electronically via the national tax authority's portal. Here are the steps:

Log into the VAT portal of the relevant country.

Complete the required fields, including sales, purchases, and VAT calculations.

Double-check entries for accuracy.

Submit the return and pay any owed VAT by the deadline.
 

Step 5: Pay or Claim Refund

After submission, settle any VAT owed to avoid penalties. If eligible for a refund, follow the specific process outlined by the tax authority.
 

Deadlines For VAT Returns
 

VAT deadlines vary across EU countries. Most require monthly or quarterly filings, while others may allow annual submissions for smaller businesses. Ensure compliance by noting the deadlines applicable to your business.

Common Challenges in VAT Compliance
 

Navigating Different Rules: Each EU country has unique VAT rates and regulations. House of Companies simplifies this complexity by providing localized guidance for each jurisdiction.
 

 Managing Cross-Border Transactions: Cross-border sales require understanding intra-community supply rules, reverse charge mechanisms, and OSS schemes. Our experts help you navigate these rules efficiently.

Dealing with Language Barriers: Tax portals and forms are often in the local language. With House of Companies, you gain access to multilingual support, ensuring seamless communication with tax authorities.

Adapting to Changing Regulations: VAT rules evolve frequently. Staying updated is crucial to avoid non-compliance. Our team monitors regulatory changes and provides timely updates to clients.
 

House of Companies: Your VAT Compliance Partner Why Choose Us?

House of Companies is a trusted partner for businesses seeking reliable and efficient VAT solutions. Our services include:

VAT Registration Assistance: We handle the registration process in multiple EU countries.
 

VAT Return Preparation: Our team prepares and submits accurate VAT returns on your behalf.
 

Ongoing Compliance Support: We offer continuous support to ensure you meet all VAT obligations.

Advisory Services: Tailored advice on VAT optimization and cost-saving strategies.
 

Our Expertise

With years of experience, House of Companies has helped businesses across diverse industries achieve VAT compliance. We pride ourselves on:
 

Accuracy: Minimizing errors in VAT filings.

Efficiency: Streamlining processes to save time.

Knowledge: Leveraging in-depth expertise to address complex VAT issues.