- VAT advance payment criteria for 2024 remain largely unchanged except for penalty measures and the application of voluntary correction
- Taxpayers must pay the VAT advance by December 27, 2024
- Updated laws have increased penalties for late or non-payment to 25 percent of the unpaid amount, reduced to 12.5 percent if paid within 90 days after the deadline
- Calculation methods for the VAT advance include historical, forecast, and actual methods, allowing taxpayers to choose the most favorable option
- No payment is required if calculations show that no amount is due
- The historical method applies an 88 percent rate on the VAT amount from the last 2023 settlement
- The forecast method estimates the VAT based on the last month or quarter of 2024, applying an 88 percent rate
- The actual method calculates VAT based on transactions up to December 20, 2024
- Taxpayers starting their activities in 2024, those with a VAT credit, or those expecting a VAT credit for the last 2024 settlement may be exempt from the advance payment
- Exemptions also apply to taxpayers who ceased operations in 2024 and do not need to make any periodic settlements for the last part of the year
- Taxpayers are explicitly exempt from the advance payment if it is less than 103.29 euros, including agricultural producers and those under simplified tax regimes
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
