Determine the VAT declaration settings

In the administration settings for Profit Financial, you determine the declaration time frame etc, and record the VAT number. You must also specify whether you are submitting a declaration for your own company, or for a different company (a customer).

Note: Change the declaration period

In principle, the Tax Authority will inform you of your (VAT/ICP) declaration period. You may deviate from this. It is always permissible to go from a longer to a shorter declaration period. Changing a short declaration period to a long one is subject to a number of rules. Please see the tax authority's website.

To determine the VAT declaration in the financial administration settings:

1. Go to: Financial / Management / Administration settings.
2. Go to the tab: VAT.
3. Enter the VAT Number of the company that is linked to this administration. Profit checks the VAT number for validity. This field is mandatory for administrations that have NL, BE or LU set as the Legislative country. For other countries, the field is not mandatory.

   If you generate the VAT declaration in Profit, the number entered here will appear on the VAT declaration.

4. Select the Declaration period you agreed to with the tax authority.

   Based on this setting, Profit generates the VAT declaration for each month, quarter or year based.

5. Select the Contact person type and complete the other fields. If you are submitting your declaration yourself, select Tax-payer in this field.
6. Enter name and phone number.

   If you are providing and/or submitting the VAT/ICP declaration for someone else, enter your name and phone number here, not those of the taxpayer!

7. Complete the 'Becon' number and 'SEB' number fields if you are providing and/or submitting the VAT declaration for someone else.

   If the Legislative country is Belgium or Luxembourg, complete the Code user, Username and Minimum calculation basis fields in the Contact frame.

8. In the FU VAT number field, enter the VAT number of the fiscal unit if your company is part of a fiscal unit (if the company is a subsidiary in a holding, for instance). This VAT number will appear on the declaration form.
9. If you make deliveries within the EU to companies that have a VAT duty, you must also  set up the ICP declaration.
10. Click on: OK.