Similar to invoices, all EU member states have different formats for VAT returns. The VAT return records following information for a given accounting period:

  • Total sales and purchases
  • VAT owed 
  • Amount of VAT to be reclaimed
  • VAT refund due

Businesses must submit a VAT return even if there’s no VAT to pay or reclaim. 

Frequency of making VAT returns varies between EU member states and typically follows a Monthly, Quarterly or Annual reporting schedule.

In rare cases, returns are also made on an activity basis for companies that are involved in irregular trading.