Taken from real life: the 11 most common VAT mistakes
. From experience, we can say that the following problems, among others, can occur with VAT:
- Uncertainties as to whether or not VAT should be shown on outgoing invoices
- No differentiation between private customers and companies when invoicing abroad
- Formal errors, parts of the necessary invoice details are missing
- the customer’s VAT ID number is not checked
- the route of goods is not observed or a missing reference to tax liability in the invoice for triangular transactions cannot be corrected later. Entrepreneurs fail to register in other EU countries.
- Incorrect VAT treatment for commission transactions
- Import sales tax is declared incorrectly
- Import VAT also applies to temporary storage if no duty-free warehouse was used
- It is very difficult to distinguish between goods and services, especially in the case of IT services
- Online mail order business on the Internet – VAT registration in the wrong country
- Sale via auction abroad – VAT liability not observed
Find out here what consequences you can expect if you make such mistakes.
Have you become aware of this topic? Here you can find out how we can help you.
