Have you declared too little VAT over 2015? If so, declare this VAT using a turnover tax supplementation form. If you do this before 1 April 2016, you will not be charged interest on underpaid tax. Do not pay the declared VAT, but wait for the additional VAT tax assessment. An adjustment of € 1,000 or less can also be incorporated in your next return.
If during the preparation of your annual report and accounts for 2015 it appears that you have not paid enough VAT, you must adjust this. If you do this before 1 April 2016, you will not be charged interest on underpaid tax.
Tip! Adjustments can be made with a VAT supplementation. Please contact your consultant for this.
Are you going to file a VAT supplementation for 2015 after 31 March 2016? Then interest on underpaid tax is charged from 1 January 2016. Currently, the interest rate on underpaid tax is 4% on an annual basis.
If the adjustment is €1,000 or less, you can also incorporate this adjustment in your next return. You then do not have to file a VAT supplementation and interest on underpaid tax is not charged, even if the next return does not have to be filed until after 1 April 2016. You will therefore also not receive a refund decision or an additional assessment of this adjustment.
Please note! Even if you file the VAT supplementation, you may still receive a default penalty of 5% of the VAT amount you have to pay. The default penalty is maximum € 5,278. You will be fined if the amount to be paid is € 20,000 or more, or if the amount to be paid is 10% or more than the paid VAT over the periods to which the VAT supplementation relates. If you do not file a VAT supplementation when you should have done so, you can be fined for incorrect VAT returns, the non-payment of (part of) the VAT or failure to file a VAT supplementation.