VAT Settlement
We handle periodic VAT settlements (monthly and quarterly), ensuring that all transactions are correctly recorded and payments are made within the deadlines.
Service details
VAT settlement is one of the most important periodic tax obligations for businesses and professionals. Studio CITI snc manages settlements with precision, avoiding errors that could generate penalties or interest charges.
The standard regime provides for monthly settlements (for those who exceeded certain turnover thresholds in the previous year) or quarterly settlements. The VAT from monthly settlements must be paid by the 16th of the following month; the VAT from quarterly settlements must be paid by the 16th of the second month following the quarter, with the exception of the fourth quarter which is paid by 16 March of the following year. A surcharge of 1% is applied to quarterly payments as interest.
The settlement calculation takes into account output VAT (on sales) and input VAT (on purchases). If the balance is a credit, it is carried forward to the next period; if it exceeds certain amounts, a refund can be requested or it can be offset against other taxes via the F24 form. The firm always evaluates the most advantageous solution for the client.
Particular attention is paid to transactions that require special VAT treatment: reverse charge, split payment, self-invoices for intra-community purchases, transactions with non-resident parties. The correct classification of these transactions is essential to avoid errors in settlements and annual returns.
Frequently asked questions
I am on a quarterly VAT regime: do I also need to pay advance payments? +
Yes. Taxpayers on the quarterly regime must pay a VAT advance payment by 27 December each year. The advance can be calculated using three different methods: the historical method (88% of the fourth quarter payment from the previous year), the forecast method (88% of VAT due for the current fourth quarter), or the actual transactions method. The firm selects the most favourable method for you.
What happens if I do not pay VAT on time? +
Failure to pay VAT on time incurs a penalty of 30% of the unpaid amount (reduced to 15% for delays of no more than 90 days). In addition to the penalty, legal interest is applied. However, penalties can be significantly reduced through voluntary regularisation (ravvedimento operoso), which provides for reduced penalties of between 1% and 5% depending on how promptly the regularisation is carried out.
I have a VAT credit: can I use it to pay other taxes? +
Yes, the annual VAT credit (or interim credits exceeding 5,000 euros) can be used as a horizontal offset in the F24 form to pay other taxes (IRPEF, IRES, IRAP, INPS contributions). For offsets exceeding 5,000 euros per year, the prior submission of the VAT return from which the credit arises is required. For credits exceeding 15,000 euros, a conformity endorsement is also required.
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