Preparation process of VAT returns
Preparation of draft VAT return
- The Client delivers the VAT documentation via e-mail or via post no later than the 5th day of the current month for the preparation of VAT return for the previous month.
VAT return consists of:
- KUF – which is the book of input invoices and it is used for recording all input invoices of the Client after receiving invoices for recording VAT prepayment at the ITA during the reporting period (one calendar month). In case that the Client has been represented by a tax representative, suppliers can directly send the original documentation to the tax representative since VAT control is carried out with the tax representative. In practice, input invoices can be included in the VAT return for the tax period (month) from which they bear the date of issue or from previous tax periods;
- KIF – which is the book of output invoices and serves as a basis for recording all output invoices that have been originated during the tax period (month) for which the VAT return is prepared;
- P PDV form which is used for reporting VAT liability or VAT prepayment. Verified by the business seal of the Client, i.e. the VAT representative, it is filed to the Indirect Tax Authority (ITA) no later than the 10th day of a current month for the VAT return for the the previous month (with certain exceptions − see the last point);
- D PDV form, which is a form filed electronically to the ITA for a more detailed overview of the transactions presented in the P PDV form.
Deadline for filing VAT returns
- Filing of P PDV and D PDV forms can be done no later than the 10th day of the current month for the previous month. If the 10th day of the month is Saturday, Sunday or a public holiday, the deadline for filing P PDV form is carried forward to the following working day. The deadline for paying the VAT liability for the current month (tax period) is the 10th day in the following month. If the 10th falls on Saturday, Sunday or public holiday, payment must be made no later than one day before the scheduled date.
Deloitte provides VAT return preparation services to its Clients. Should you be interested in this service, we will be happy to have you as our Client.