What you need to know about VAT return?

Without a doubt, at least once a year you’ve heard about the VAT return services and the importance of VAT submission. There were many times when because of VAT companies have faced problems and even were closed because of huge debts. Even though these scandals are public, still many businesses choose to not follow the rules and play their own game. For this, we want to explain the possible consequences and why it is important to follow the rules of the VAT.


But first, how to prepare for VAT return?


To prepare for the previous month, one should deliver the VAT documentation via e-mail or post not later than after 5 days of the current month. This point is very important in order to not gain any penalties. So there are several components that VAT return services consists of. They are: KUF, KIF, P PDV and D PDV. Without a doubt, they can be further explored in any source of information on the Internet.


What is the deadline?


Filling any of above mentioned forms should be done not later than the 10th day of the month that are current and the payment is for paying for a previous month. Of course, as it is a common practise, if a day is Sunday or Saturday (or any public holiday) the deadline is carried forward. In fact, the payment must be done in one day before the scheduled date.


VAT return services are complicated and complex matter. However, it’s not that difficult if you seek for more information or hire consultants for complicated matters. Professionals know all the details so they will be able to guide you through the maze of the VAT. Trust others.

Naujausi įrašai