Does anyone know if there is a time limit when applying for a refund of VAT? My toiminimi didn't exceed the threshold and as I understand it that means I can apply for a refund of the VAT I paid. I imagine that I don't have an unlimited time to make the application, but would like to know how long afterwards I can do it.
Also, I expect that any refund then gets treated as if it is income. Is that correct or am I just being pessimistic?
Thanks for any tips,
theHook.
Vat Refund
Re: Vat Refund
What do you mean "Your TMI didn't exceed the threshold"?
As in you didn't make 8500 euros this year so you wouldn't *have* to pay VAT?
You can't just one year decide to pay VAT and the other year when you don't make enough decide that you don't pay VAT.
And if you don't PAY VAT, you can't CLAIM any VAT either.
As in you didn't make 8500 euros this year so you wouldn't *have* to pay VAT?
You can't just one year decide to pay VAT and the other year when you don't make enough decide that you don't pay VAT.
And if you don't PAY VAT, you can't CLAIM any VAT either.
Re: Vat Refund
Do you mean that:
You voluntarily registered for VAT
You have a business ID
You have submitted VAT returns for the whole accounting period (12 months)
You total revenue before tax for the 12 month accounting period was under 8500€
?
My understanding is that tax concessions are only given on revenue above 8500€ but below 22500€. But I could be wrong; the section on small-scale activities in my little book (Establishing and Doing Business in FInland) is a bit confusing.
I suggest you call them (Vero). They are really helpful (my husband called them last week with a VAT query and he was completely gobsmacked at how polite, patient and helpful they were).
Hmmm.... now that I have re-read the chapter I think I need to check my own books again, maybe I can apply for a rebate too
THX.
You voluntarily registered for VAT
You have a business ID
You have submitted VAT returns for the whole accounting period (12 months)
You total revenue before tax for the 12 month accounting period was under 8500€
?
My understanding is that tax concessions are only given on revenue above 8500€ but below 22500€. But I could be wrong; the section on small-scale activities in my little book (Establishing and Doing Business in FInland) is a bit confusing.
I suggest you call them (Vero). They are really helpful (my husband called them last week with a VAT query and he was completely gobsmacked at how polite, patient and helpful they were).
Hmmm.... now that I have re-read the chapter I think I need to check my own books again, maybe I can apply for a rebate too
THX.Re: Vat Refund
All that you wrote.penelope wrote:Do you mean that:
You voluntarily registered for VAT
You have a business ID
You have submitted VAT returns for the whole accounting period (12 months)
You total revenue before tax for the 12 month accounting period was under 8500€
?
I'm not "deciding" that I won't pay tax. Others in business have said to me that if your income doesn't reach that magic number then you can claim back what has been paid. I expect I might be involuntarily deregistered at the same time, but I may well close the thing down anyway. As Penelope suggests I will go to the tax office. I was just wondering if someone knew and could save me a trip.
Re: Vat Refund
You don't have to go there, you can call them (phone). They will pass you on to someone who speaks English. Have your business ID ready.
If your accounting period doesn't end until 31/12 you won't be able to claim until January. But they will tell you exactly how to claim if you qualify. Have you deducted VAT (eg for your expenses?), you will probably forfeit those deductions. So do your sums first (eg did you buy a VAT deductible PC?)
I vaguely remember a poster on this forum saying that s/he did get the VAT back... did you try the search engine? It would've been within the last few months or so...
I found this thread... you could try sending a PM to some of the posters involved in these VAT rebates, they might know:
viewtopic.php?f=37&t=31368&p=282307
If your accounting period doesn't end until 31/12 you won't be able to claim until January. But they will tell you exactly how to claim if you qualify. Have you deducted VAT (eg for your expenses?), you will probably forfeit those deductions. So do your sums first (eg did you buy a VAT deductible PC?)
I vaguely remember a poster on this forum saying that s/he did get the VAT back... did you try the search engine? It would've been within the last few months or so...
I found this thread... you could try sending a PM to some of the posters involved in these VAT rebates, they might know:
viewtopic.php?f=37&t=31368&p=282307
You get back (if you ask for it, and at the beginning of the following year) 100% of the payed VAT if your turnover is less than 8500 per year (i think) and only a part of it if your turnover is between 8500 and 22500
see http://www.vero.fi/nc/doc/download.asp?id=3082;27551
Re: Vat Refund
I also found that earlier post and followed the link. The linked artilce doesn't state - or I didn't notice it if it did - if there is a time limit within which an application has to be made - like within so many months / years of the end of the business year in question. I'll call / visit and post what I find out.
Re: Vat Refund
So much thank for your answers 
I did try (of course) to call them... have to wait about 15 mn after they say you need to call another number to get answer about this and that... I call, wait, get fed up, hang up the phone... I even asked them to call me back now 3 days still waiting I can understand they are too busy with more important people.
as answer for some question: I have this Business ID and the money what I will make for 6 months it is less then 7000 euros.
another question is, can I pay for some marketing course ( for example ) and my "toiminimi pays for that" ?
I did try (of course) to call them... have to wait about 15 mn after they say you need to call another number to get answer about this and that... I call, wait, get fed up, hang up the phone... I even asked them to call me back now 3 days still waiting
I can understand they are too busy with more important people.as answer for some question: I have this Business ID and the money what I will make for 6 months it is less then 7000 euros.
another question is, can I pay for some marketing course ( for example ) and my "toiminimi pays for that" ?