In general the penalty which can be imposed amounts to 5% of the VAT due with a maximum of € 5514 (verzuimboete/default penalty). No penalty will be imposed when the amount resulting from the correction does not exceed € 20.000 and/or the additional VAT due does not exceed 10% of the VAT already paid. If no supplementary return is submitted the offense penalties applicable will be a lot higher.
Interest will also become due when the supplementary declaration is submitted after 3 months following the end of the calendar year when the VAT became due. Therefore in order to avoid interest, the supplementary return(s) related to 2020 need to be submitted before April 1, 2021!
Do you need assistence with your VAT declarations?
Daniëlle van der Meulen-Idema
Sr. VAT Specialist