Who accounts for VAT
Entrepreneurs are obliged to register and account for VAT unless:
- they do not exceed the annual sales limit set in the Country (subjective exemption)
- they conduct sales that are exempt from VAT (subjective exemption)
Even if there are periods in which your business has not engaged in any taxable activities, you should submit a zero VAT return.
Once registered for VAT purposes, an entrepreneur is required to submit:
- VAT returns (monthly or quarterly)
- summary information (ECSL) – when you are involved in the movement of goods in EU member states (for B2B sales)
- Intrast reports (statistical system collecting and monitoring exports and imports of goods within the European Union)
- Standard Audit File for Tax (SAF-T)