Monthly or quarterly VAT settlement, deadlines and payment calculation


The payment of the tax, normally on a monthly basis, can be made quarterly above a certain turnover threshold and for certain categories. All the rules to avoid making mistakes

With VAT liquidation we mean the operation that the holders of the homonymous number must carry out to determine the tax debt to be paid to the State or the tax credit, which instead is carried over to the following period.

This operation can be performed monthly or every three months, with VAT taxpayers who can choose, at the start of their business, the periodicity of the tax payment depending on turnover but also on the category to which the companies belong.

Generally, VAT is paid monthly, but there are some exceptions, which may require calculating the tax debt or tax credit every three months. First of all, this applies to taxpayers with a turnover not exceeding 400,000 euros in the previous year, for those who operate in the provision and services sector, and not exceeding 700,000 euros for other activities. Taxpayers belonging to this category will also have to add 1% interest to their liquidation.

To these are added the so-called special quarterly taxpayers, categories that can complete the VAT settlement every three months regardless of the turnover of the previous year. They are the owners of fuel distributors, road hauliers of goods on behalf of third parties, operators of public service activities and operators of arts and health professions. Interest is not added for this type of business.

Deadlines for payments

Taxpayers who carry out VAT payments on a monthly basis must necessarily pay by the 16th of the following month. Quarterly taxpayers, on the other hand, must meet the deadlines of May 16 (first quarter), August 20 (second quarter) and November 16 (third quarter).

As regards the adjustment of the last three months of the year, they can decide whether to pay by March 16 of the following year (February 16 for special quarterly taxpayers) or opt for a further extension of the terms, paying the VAT together to other taxes due on the basis of the tax return.

Two different tax codes of the F24 model correspond to each type of liquidation. As regards monthly payments, the code consists of 60 plus the number of the month to which it refers (for example 6001 for January). For quarterly reports, however, the code is 603 followed by the quarter to which it refers (6032 for April, May, June).

The payment of the VAT settlement can only be presented online through the channels of the Revenue Agency.



Source-tg24.sky.it