Filing deadlines: tax settlement returns due

Mon Mar 27, 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 Q1 2017 deadline is Thursday, April 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 Q1 to file their return.

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 April 2017, payment must be made by Wednesday, May 31.

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).

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.

For non-resident suppliers that need to return GST to New Zealand there was a six-month transitional period where suppliers were required to file a return for any services supplied from October 1, 2016, until Friday, March 31, 2017. The first filing and payment date for this transitional period is Friday, April 28.

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 (Q2) 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.

Russia

On January 1, 2017, Russia 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. As a result 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 on Tuesday, April 25, 2017.

Upcoming filings

Serbia

On Saturday, April 1, Serbia became the latest tax jurisdiction to introduce laws governing the cross-border supply of digital services to Serbia-based consumers.

Again – in a move that mirrors rules in the EU and Russia – there is no threshold to compliance. One digital sale by an international business to a Serbia-based consumer will trigger compliance requirements.

Serbian VAT returns are due monthly with a filing deadline of 15 days after the end of the month.

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