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This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance

Germany Pre-payments

The pre-payment value is required to be able to benefit from an extension to the VAT deadline that is reported as part of a December VAT return. The prepayment schedule can be inserted in the periodic return.
  1. In ONESOURCE Indirect Tax Compliance, open the return.
  2. On the ribbon, select Insert icon, then select
    Insert sheet
    from the menu.
  3. Select the
    Pre-payment
     checkbox.
Once inserted in one of the periods, the schedule will be available in the next period return when the dataset is rolled forward.
The calculation is performed as follows:
  1. In the D sheet, the value for each month is taken from Box83 (VAT payable / VAT recoverable) of the periodic return. The value is then carried forward from period to period (on monthly basis) until December.
  2. In December, the total amount of VAT due accumulated through the year divided by 11 is the pre-payment amount for the following calendar year. This amount will be reported in the December periodic return of the following year in Box 39.
To be able to see the value in December, the values from previous months (starting from January to Dec) must be added.