VAT numbers ready to close the year in "beauty". 2018 is about to end and, as per tradition, the tax authorities also want their share. December 27 is the deadline to pay the VAT advance, a date to be marked in red on the calendar for thousands of VAT payers subject to payment.
ADVANCED VAT, DEADLINE 27 DECEMBER: WHO HAS TO PAY, WHO IS EXEMPT
They are subject to payment and therefore must pay the deposit by 27 December all VAT payers who carry out periodic payments, both monthly and quarterly.
Instead, they are exempt taxpayers who do not have the historical or forecast data necessary for the calculation (because they have ceased their activity or because they plan to close the VAT accounts with a tax deductible surplus) and those who have an amount to pay not exceeding 103,20 euros.
Also exempt:
- agricultural producers,
- individuals who carry out show and game activities under a special regime,
- amateur sports associations, non-profit associations and pro loco associations, on a flat-rate basis
- collectors and dealers of scrap, waste, waste paper, glass and the like, exempt from the obligations of liquidation and payment of the tax
- individual entrepreneurs who have rented out the only company, by 30 September, if paying quarterly taxpayers or by 30 November, if paying monthly taxpayers, provided that they do not carry out other activities subject to VAT.
ADVANCED VAT, DEADLINE DECEMBER 27: HOW IT IS CALCULATED
There are three methods that VAT numbers have available to calculate how much down payment must be paid: historical, forecast and analytical.
For those who decide to use the historical method, the VAT advance to be paid by 27 December will amount to 88 percent of the payment made in December 2017, or for those who settle on a quarterly basis, in the last three months of 2017.
Who opts for the forecasting method he will have to calculate the down payment on the basis of an estimate of the operation he plans to carry out up to 31 December. In this case the taxpayer will have to pay 88% of the VAT that he expects to pay:
- in December (if monthly tax payer),
- when filing the annual VAT return, in the case of ordinary quarterly taxpayers
- for the fourth quarter, for “special” quarterly payers.
Finally, VAT numbers who intend to use the analytical method they will have to take the transactions carried out up to 20 December as the basis. The deposit to be paid by December 27th will be equal to 100% of the amount resulting from a specific settlement that takes into account the relative VAT:
- to the operations noted in the register of invoices issued (or payments) from 1 December to 20 December (in the case of monthly tax payers) or from 1 October to 20 December (in the case of quarterly tax payers)
- to transactions carried out, but not yet registered or invoiced, from 1 November to 20 December
- operations recorded in the register of purchase invoices from 1 December to 20 December (in the case of monthly payers) or from 1 October to 20 December (in the case of quarterly payers).
ADVANCED VAT, DEADLINE DECEMBER 27: HOW TO PAY
Those who are subject to payment will have to pay the amount due (if higher than 103,2 euros, we remind you), using the model F24. Payment can only be made electronically.
The Revenue Agency explains that: "it is possible to offset the amount due as an advance with any tax credits or contributions available to the taxpayer".
I tax codes to use are:
- 6013 for monthly payers,
- 6035 for the quarterly ones.
