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As of April 1st, 2018, the threshold for VAT registration has entered into force for an annual turnover of ALL 2,000,000.
Small business taxpayers that during 2017 have carried out an annual turnover from ALL 2,000,000 – 5,000,000, pursuant to this amendment, shall be automatically registered by the Tax Administration with the tax liability of Value Added Tax.
Moreover, under this liability shall also be registered every taxpayer, whether existing or recently registered, that foresees to carry out a turnover above this threshold during 2018.
Every taxpayer included in the VAT scheme shall chronologically register in the book of sales every tax invoice of sales issued by him, as well as the daily turnover memorized by the fiscal equipment under one single monthly figure. Also, he shall register in the books of sales every invoice of purchase of goods with or without VAT, as per the respective columns.
Data of sales and purchases shall be registered in the book of sales and purchases on monthly basis.
The declaration of the books of sales and purchases for taxpayers with a turnover of ALL 2,000,000 – 5,000,000 shall be carried out every 3 months, by the 10th of the month succeeding the quarter. The first deadline for this declaration for the tax periods: April-May-June 2018 shall be July 10th, 2018 and then October 10th, 2018, January 10th, 2018, April 10th 2018 and so on. The books shall be submitted electronically, via the e-Filing system, i.e. from the electronic declaration account of the taxpaying entity.
The total data registered in the books of sales and purchases shall be entered in the respective sections of the VAT monthly declaration, which is submitted in the same way and by the same deadlines as the books of sales and purchases.