Your small business’s liquidity position can be significantly improved by applying for cash-based VAT recording.
Taxable persons, who make up to 400.000 EUR of turnover in previus 12 months, can apply for cash-based VAT:
- VAT is paid when a payment from buyer is received;
- incoming VAT is substracted when supplier’s invoice is paid.
Certain criteria have to be met for succesfull application. All taxes have to be paid and all forms submitted. By the end of January each year outstanding invoices report has to be submitted to Furs.
Accountants usually don’t like cash-based VAT, to be polite. It demands total accuracy in bookeeping records and is thus complicated from bookeeping point of view. Since we like accuracy, we offer cash-based VAT services to our clients. If you wish to apply for a cash-based VAT scheme, please do not hesitate to call us at +386 8 2055 950 or e-mail us at email@example.com to obtain a competitive offer.