Filing deadlines: tax settlement returns due

Mon Jan 16, 2017

Providing Taxamo merchants with fully compliant tax settlement reports for our supported regions is one of the key features of our global digital tax compliance solution.

Q3 returns

Tax settlement reports are, typically, due at the end of each calendar quarter (or in the case of South Africa monthly). Here’s a brief region-by-region settlement report summary:

European Union

European Union (EU) VAT returns are now due. Merchants have 20 days from the end of Q4 to file their return. Therefore the Q4 2016 deadline is Friday, January 20.

Norway

Norwegian VAT returns are now due. Taxamo provides a quarterly tax settlement report in our merchant portal, providing values for the required Norwegian VAT return.

As for EU VAT MOSS returns, merchants have 20 days from the end of Q4 to file their return, more information available in our FAQs here.

South Africa

South African VAT returns for international digital service suppliers with customers there are required on a monthly basis.

Payment of South African VAT must reach the South African authorities by the last business day of the following month. For example, for December 2016, payment must be made by Tuesday, January 31.

More specific information on the South African VAT return is available here.

Switzerland

In principle Swiss VAT returns are filed quarterly but there is also the option of filing monthly, bi-annually, or annually.

As the tax filing period varies for merchants depending on which category they fall into, the Taxamo solution allows the merchant to run tax settlement reports on a month-to-month basis. This enables merchants to select the start and end month that is appropriate to their business model.

The filing deadline is 60 days after the end of the reporting period or the date where the liability ceases (e.g. deregistration).

More specific information on Swiss VAT returns and settlement is available here.

Upcoming filings

New Zealand

On Saturday, October 1, New Zealand extended their taxation system to account for digital supplies made by foreign businesses to domestic consumers was New Zealand.

If you make supplies of digital services to New Zealand-based consumers then you will have to register for Goods and Services Tax (GST) and file returns to New Zealand’s Inland Revenue Department.

More: Our recent blog on New Zealand’s GST change is available here.

For non-resident suppliers that need to return GST to New Zealand there will be a six-month transitional period where suppliers will be required to file a return for any services supplied from October 1, 2016. The first filing is due on March 31, 2017.

All returns from April 1, 2017, must be filed quarterly, similar to the existing requirements in the EU.

Non-resident suppliers have until the 28th of the month following the end of a quarter to file and pay any GST owing, e.g. for the June 2017 quarter the GST payment and return will be due by July 28. If no supplies have been recorded but you want to remain GST-registered in New Zealand then you must file a ‘nil’ return.

Note: If you are below the New Zealand threshold of NZD$60,000 you can continue sending all of your transactions to Taxamo.

Taxamo will send an alert when the value of sales to your New Zealand consumers approaches the threshold limit. At which time you should turn this region on in your Taxamo account settings.

Russia

On January 1, 2017, Russia introduced extended their value-added tax (VAT) system to include the cross-border supply of digital goods and services.

Like the existing rules in the EU there is no threshold in place. Therefore all cross-border digital service supplies to Russia-based consumers (i.e. B2C) come under the umbrella of the new rules.

Suppliers of these services must register with Russia’s Federal Tax Service. Once registered foreign digital service suppliers will have to remit the VAT collected no later than the 25th of the month following a quarter which has ended.

The first return for Russia VAT is due for Tuesday, April 25.

View your tax settlement reports

Taxamo provides merchants with the relevant tax settlement reports for each region that they have enabled in their Taxamo account.

To view your relevant tax settlement reports in your Taxamo account, please follow the example as outlined here.

Note: Taxamo content is created for guidance only, please consult your local tax advisor.

Contact us to find out more about our solution