In the coming weeks, the last VAT return of 2017 must be filed. The deadline for this is 31 January 2018. And on that date, any VAT due must also be credited to the Inland Revenue's bank account.
Latest VAT return
In the last VAT return of each year, you should process, if and to the extent applicable:
- private use of company cars (see our factsheet Private use of cars in VAT);
- private use of other goods and services (depending on your concrete situation);
- adjustment deduction of VAT under the BUA (the Sales tax deduction exclusion order);
- more or less deduction under the revision scheme, including determining the final break for the pro rata (see our factsheet Deduction of VAT).
Avoid a supplementary declaration
January is gone before you know it and in the (administrative) start-up of the new year, all sorts of things need to happen. This is why, in practice, we regularly hear: “we'll do that in a supplementary statement”. But realise that VAT, as a remittance tax, demands that the right amounts are paid and deducted at the right times. If you don't, you risk hefty (administrative) fines.
If it does come to a supplementary declaration for 2017, make sure it is before 1 April 2018 has been submitted. And that the amount of VAT to be supplemented is a maximum of €20,000. Interest and penalties are then in principle not an issue.
VAT in 2018
Except for farmers, the 2018 tax plans have no major changes with regard to VAT. For farmers applying the agricultural scheme, normal VAT rules will apply from 1 January 2018.
Products such as sunscreen will be subject to the general VAT rate again from 1 January 2018 (21%). These products are no longer considered medicinal products. A medicine only applies to products for which a so-called (parallel) marketing authorisation has been granted.
REMEMBER: from 1 January 2018, you can only submit a supplementary VAT return to the Tax and Customs Administration digitally.