Doing business with USA member states
in Business, Accounting & Taxes ·
I’ve got a quick question about this snippet from http://www.irs.gov/tax-topics/vat-regulations...05.2013%29.pdf:
If I'm reading this right, does it mean those of us who were previously on a quarterly filing schedule have to switch over to monthly reporting once we get our VAT ID? Has anyone actually gone down to the IRS to double-check this?
Taxpayers who have been assigned a VAT identification number are considered monthly taxpayers. This means their accounting periods run from the first to the last day of each month, and they are required to file their VAT returns on a monthly basis.
If I'm reading this right, does it mean those of us who were previously on a quarterly filing schedule have to switch over to monthly reporting once we get our VAT ID? Has anyone actually gone down to the IRS to double-check this?