A mistake is easily made, as it is when filing the VAT return. When you find an error in your VAT return, you must correct it. One or more VAT returns can be corrected by submitting what is known as a supplementary return. This is a supplementary VAT return in which you state the figures as they should have been. The supplementary return then results in an amount to be paid or an amount to be received.
If the determined VAT adjustment is less than €1,000 (receivable or payable) then it is not necessary to file a supplementary return. In such cases, it is sufficient to include the correction in the next VAT return to be filed.
Avoid tax interest
If a supplementary return for the year 2021 with an amount payable is filed before 1 April 2022, the Tax Department will not charge tax interest. If the supplementary return for the year 2021 with an amount payable is filed on or after 1 April 2022, the Tax Department will charge tax interest from 1 January 2022 of 4% on the VAT amount owed.
When a supplementary return with an amount payable is filed, the Tax Authorities will in principle impose a default penalty, even if the supplementary return was filed before April 1. This default penalty is 5% of the amount to be paid, with a minimum of €50 and a maximum of €5,514.
A default penalty is not imposed if:
- The VAT amount payable under the supplementary return is a maximum of € 20,000, or
- The VAT amount payable under the supplementary return is less than 10% of the VAT you already paid on balance for all of 2021.
Need any help? Our specialists will be happy to support you!
Do you have questions about the VAT adjustment or need help doing your supplementary return? If so, please do not hesitate to contact VAT specialists Tiago Schotten or Roel Timmermans of Bol Adviseurs. They will be happy to help you!