VAT supplement with Yuki

Disclaimer

All screenshots in the article were taken in the Dutch version of Yuki.

After closing a financial year, such as when preparing the annual accounts, it may become apparent that corrections are needed to VAT returns that have already been submitted. If it turns out that too much or too little VAT has been declared in the current year or the past five years, it is mandatory to correct this with the tax authorities.

VAT supplement in Yuki

Once all VAT returns for a financial year have been submitted and confirmed by the tax authorities, closed VAT returns in Yuki can only be adjusted via a VAt supplement. Yuki automatically generates the VAT supplement with the corrected data for the entire year.

ATTENTION!

It is not possible to submit a VAT supplement for a monthly or quarterly period within Yuki. This must be done manually via the tax authorities website.

In Yuki, you can then post the corrected data included in this supplement as a journal entry.

Send VAT supplement

Yuki never automatically sends VAt supplements to the tax authorities. It is the responsibility of the administrative office or accountant to send the VAT supplement manually by clicking on the Send button.

If you decide not to send the VAT supplement to the tax authorities, you can change the status of the VAT supplement to ‘Closed (historical)’.

Important deadlines from January 1, 2025

As of January 1, 2025, there will be two important deadlines for submitting a VAT supplement for sales tax:

1. within eight weeks after the entrepreneur becomes aware of the inaccuracy
2. before the taxpayer knows or reasonably suspects that the inspector is or will become aware of the inaccuracy.

The supplementary return must be submitted before the expiry of one of these deadlines.

TIPS!

• the tax authorities may later request a specification of the VAT supplement 
• please note that the tax authorities will not send a refund decision or additional tax assessment.
  
  

Correction limit of 1000 euros

If not all VAT returns for a financial year have been sent to the tax authorities, and a correction to a closed VAT return results in an amount of less than 1000 euros to be paid or received, this corrected information can be processed in the next VAT return.

ATTENTION!

This correction limit of 1000 euros does not apply to corrections to the small business scheme (KOR).

Processing corrections

Corrections within the current financial year

If, after the corrections, it appears that an amount of less than 1000 euros is to be paid or received, Yuki will not make a VAT supplement. Yuki automatically processes the corrected data via a journal entry (offset entry for the corrections) in the draft VAT return for the next VAT accounting period.

Corrections to the next financial year

If the VAT supplement of less than 1000 euros must be transferred to the first VAT accounting period of the next financial year, you must manually create a journal entry in Yuki.

For a detailed description, see article Record VAT supplement under 1000 euros in next financial year.