Expenses in the research phase of your business It may be that you are thinking about starting your own business. You are doing some market research and you are already buying some equipment. Save all the receipts and invoices you receive regarding these expenses. Once you have started and registered your business you may claim…
If goods or services are exempted from VAT, the VAT on the expenses made to produce these goods or services can’t be claimed back. If the goods or services are taxed with 0%, the VAT on the related expenses may be claimed back though. So a VAT rate of 0% can be more beneficial then…
There can be several reasons why you ask this question. You have requested a VAT number but it hasn’t been granted yet After you started your business you have registered with the tax authorities and requested a VAT number. Now it seems you have completed your work before you have received the VAT number. You…
No. In order to reclaim VAT you must first complete a VAT registration for your business. Once registered you can claim VAT on goods/services you sell and also reclaim VAT on goods/services you have purchased for your business from others.
Unlike the income tax and corporate income tax it is not possible to request a time extension for filing a VAT return. You are (in principle) always obliged to file the VAT return before the deadline. If you don’t file it before the deadline you will receive an (estimated) additional assessment which will include a…
Question: I am starting as a freelance writer here in the Netherlands and wanted to know how I can register for a VAT number? I have spoken with the Chamber of Commerce and they advise that as I only have one customer so far it is difficult to register as a company? Please can you…
You send invoices to your client Important is the date of the invoice. The moment you create the invoice you owe the VAT which you have mentioned on the invoice to the tax authorities. So if you have created an invoice on December 28, the VAT on this invoice will have to be declared in…
VAT returns must be filed regularly by VAT registered businesses. It is typically required for businesses to file VAT returns on a quarterly basis. The return will show how much VAT you charged during that period of time, which is referred to as Output Tax. The return will also show how much VAT has been…
The consequences of not declaring or paying the VAT in time A business will have to declare the VAT to the tax authorities every month or quarter (or even year). It may happen that you can’t declare and pay in time due to certain circumstances. What will be the consequences? What happens if I didn’t…
The general VAT rate is 21%. For certain products and services the lower rate of 9% is applicable. This for example includes the basic needs of life like food. Some products and services are exempted. For these the rate of 0% applies.