Do you have questions about how to fill in the periodic VAT return? In this article we show you step by step and give you an account of delivery times.
THE periodic VAT return it is a tax obligation that those who are subject to VAT delivery to the State must comply with. This declaration is a legal document relating to operations carried out during a certain period of time, which can be monthly or quarterly.
Delivery is made online, a procedure provided for in article 29 of the VAT Codeand intends to determine the tax paid, the tax borne on the acquisition of goods and/or services and the respective deductible tax.
Periodic VAT declaration: how to complete it in 4 steps
To access the declaration form, on the Finance Portal, go to “Tax Services” and then to “Citizens”. Within this directory, click on “Deliver – VAT – Periodic Declaration”.
After entering the form, the three items you need to fill in to submit the periodic VAT return will appear on the left side of the screen.
Step 1: Start
The first step is aimed at filling in the information regarding the taxable person??
You will have to indicate your Tax Identification Number (NIF) or legal entity, the location of the registered office and whether it carried out operations in a tax space or spaces other than the one in which it is located (Continente, Madeira or Azores).
It is also requested the year and period to which the declaration relates?? For example, if the declaration refers to the third quarter of 2022, it must indicate the year “2022” and the period “3rd quarter”.
In case you have not made no sale of goods or provision of services in the period in question, you will have to deliver the periodic VAT return in the samebut you must indicate in the “accounting” area if you have tax to be reported.
It may be the case that, even though you do not have VAT to be reported on transactions in the reporting period, you have excess tax to be reported from the previous period. In this situation, indicate in point 5 (see below) the amount of the excess.
Step 2: Clearance
Once the identification is made, the tax amount for the period to which the declaration refers is calculated. You must initially answer three questions and fill in the respective points of agreement.
- Do you have transactions in which you paid and/or self-assessed tax? If you provided services or made sales and issued green receipts during the period in question, you must answer “yes” and fill in point 1. If you did not carry out any activity in the period to which the declaration refers, you must answer “no”.
- Do you have transactions in which you did not pay tax? The usual answer should be “no”, unless you have some tax-exempt activity, as it can be equated with an export. This occurs when you make sales to an intra-community country. There you will not have to charge VAT, as intra-Community sales are exempt from this tax. However, whoever makes the purchase will have to pay the tax in the country of destination. If you have sold goods or services within the European Union, you must answer “yes” and enter the base value of intra-community sales in field 7.
- Do you have tax deductible and/or regularizations? You must tick “yes” if you have activity expenses where VAT can be deducted and fill in the tax amount in the respective fields in point 3 (see below). If you have credit notes or excess to report from the previous period, also fill in points 4 and 5.
1. Transfers of goods and provision of services
At this point, you must present the values corresponding to the sum of the amounts that served as the basis for the tax paid.
If you provided services or transfers of goods, then you must enter the taxable base value (without VAT), depending on whether the rate is reduced, intermediate or normal.
For example, if you provided services worth 5000 euros with a normal VAT rate, ie 23%, enter this amount in field 3. In field 4, enter the amount of tax payable to the State. In this case, the tax payable would be 1150 euros.
2. Intra-community acquisitions of similar goods and operations
This area should only be filled in if you have made purchases in the intra-community space. Intra-community transactions do not pay VAT in the country of origin, but must pay when entering Portugal. This is where you should put that value.
Regarding the subfield “services performed by taxable persons from other Member States whose tax has been paid by the declarant”, this only applies to transactions involving three parties. Normally, they do not happen in the normal activity of self-employed workers.
3. Tax deductible
In this space you must indicate the expenses subject to VAT deduction.
- Immobilized: when there is an acquisition of a long-lasting asset, with a value greater than 1000 euros;
- Stocks: when there is a purchase of merchandise, goods or products inherent to the business activity. In this field, you have to separate the VAT amount according to the rates (reduced: 6%, intermediate: 13% or normal: 23% for the mainland);
- Other goods and services: must indicate the value of VAT corresponding to expenses related to activities, but which are not merchandise. For example, telecommunications.
4. Monthly/quarterly and annual regularizations
This field must contain the VAT value of the credit notes.
If the credit memo is from suppliers, the VAT goes to field 41 (in favor of the State). If the credit note is a correction to the documents issued, it goes to field 40 (in favor of the taxable person).
5. Excess to be reported from the previous period
Situations of excess VAT to be reported from the previous period arise if the deductible tax amount (VAT on your purchases) is higher than the tax paid (VAT on your sales and services rendered).
This additional amount is deducted in the following periods and must be indicated at this point.
Step 3: Development
this step does not apply to most activities that pass green receipts and should only be completed in very specific cases.
Step 4: Deliver
After filling in, the periodic VAT return is ready to be submitted. You must click on submit so that it is sent to Finance.
Periodic VAT declaration: delivery deadlines
The periodicity for submitting the periodic VAT return depends on the turnover.
delivery of the declaration can be monthly or quarterlyaccording to the situation in which the taxable person finds himself, under the terms of 41 of the VAT Code??
Periodic declaration of quarterly VAT
For one turnover of less than 650 thousand eurosit is only necessary to statement every three months??
Until now, the deadline for submitting the declaration was on the 15th of the second month following that for which the operations are intended, and the payment itself should be made by the 20th of that month. However, with the entry into force of the State Budget for 2022 (OE2022), the deadline for submitting the declaration passed to the 20th day of the second month following that to which the operations relatebeing that payment must be made by the 25th of the same month??
Periodic declaration of monthly VAT
In case the turnover is equal to or exceeds 650 thousand eurosthe periodic VAT return will have to be delivered every month??
The deadlines for both the delivery of the declaration and the payment were also changed with the OE2022. Thus, the deadline for submitting the declaration was extended to the 20th day of the second month following the month to which the operations relateand the payment of the tax must be made by the 25th of the same month??
Declaration out of date
There is always the possibility of submitting the declaration outside these deadlines, but you can be penalized with fines. In this case, you must indicate that the declaration is out of date.