VAT Fines

VAT Fines or What Should You Remember During VAT Filing? 

Czech VAT penalties

Foreign companies may subject themselves to some penalties if there are late filings of Czech VAT returns. The penalties for late filings or failure to register are evaluated to the lost revenue with the ultimate penalty of CZK 300,000. A penalty of 20% of the additional tax charge will be generated for incorrect filings. Furthermore, additional interest is charged for late payment of VAT at repurchase price and an addition 14% – developed by the Czech National Bank. You can only pay interest for five years and over.

There is a law for 3 years restriction for Czech VAT, though there are exemptions to this – for instance, in situations where business hand over repeat tax offenses, the law of limitation may be given a 10-year extension.

German VAT fines

Foreign companies may be penalized if cases like late fillings or wrong declarations of the VAT return arises.  For cases of late filings, the company is subjected to a 10% charge of the VAT fee with 25,000 Euros being the limit. Whereby the payment is further delayed, an extra 1% charge is added monthly VAT overdue.  The period of the statute of limitations for German VAT is four years, although fraud cases are the exemption, it is usually extended for a period of 10 years.

Fines of the Polish VAT

Foreign companies may be fined if there are late documentations or wrong declarations. These fines come as interest added on the amount of unpaid VAT. Interests are now fixed at a rate, doubling that of the polish national bank rate with 2% topped.

The tax assessment time is five years, at the end of the year in which a company was responsible for VAT.

Fines for UK VAT 

Foreign companies may be fined if late fillings or wrong declarations are present in UK VAT returns. Failure in registering for VAT and not informing within 30 days, the HMRC website of being subject to VAT registration will surmount to a fine, of approximately 100% of the VAT, which would have been due at the time of unregistered marketing. 

Fines for delay or neglecting to submit VAT returns are surcharges given by the HMRC, which is measured in percentages(about 15%), of the unpaid VAT. Wrong returns are also fined as surcharges which measure up to 100% of the misplaced revenue. 


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