VAT Return-Zero Rate Turnover

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Maaria
Posts: 77
Joined: Fri Jul 12, 2019 3:49 am

VAT Return-Zero Rate Turnover

Post by Maaria » Tue May 12, 2020 9:14 pm

The word I Finnish is 0-verokannan alainen liikevahito.

I couldn't get hold of my accountant and she didn't file VAT return which was due today. So I am trying to do it myself. I am trying to understand what that term means.

What I understand is zero vat rate is applied to the goods or service sold to a destination outside the EU. So the amount should be what I received from my clients. But in previous return she put an amount less than what I received. Doesn't turnover mean your gross revenue from sales or service?



VAT Return-Zero Rate Turnover

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betelgeuse
Posts: 3483
Joined: Thu Aug 29, 2013 1:24 am

Re: VAT Return-Zero Rate Turnover

Post by betelgeuse » Tue May 12, 2020 10:05 pm

Maaria wrote:
Tue May 12, 2020 9:14 pm
The word I Finnish is 0-verokannan alainen liikevahito.

I couldn't get hold of my accountant and she didn't file VAT return which was due today. So I am trying to do it myself. I am trying to understand what that term means.

What I understand is zero vat rate is applied to the goods or service sold to a destination outside the EU. So the amount should be what I received from my clients. But in previous return she put an amount less than what I received. Doesn't turnover mean your gross revenue from sales or service?
The penalties for filing a couple days late are really minor. Much easier to wait to get a hold of your accountant and file late.

https://www.vero.fi/en/businesses-and-c ... sessed_ta/


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