As it is known, VAT (Value Added Tax) is the type of tax that comes into our lives in 1984 and pays the buyer of the goods or services to the deliverer in the collection of goods and services. That is, this transaction takes place between the buyer and the seller. However, although only VAT is known, there is another tax treatment called “VAT 2”.
What is VAT 2 Declaration?
VAT 2 is a VAT declaration that was put into effect by the Ministry of Treasury and Finance and started to be implemented for sectors that have difficulty in collecting VAT. 2 is known as VAT.
As we said before, VAT is a consumption tax. Different VAT rates are applied in different sectors in our country. However, in some cases, the party performing the transaction for which VAT must be paid cannot pay the VAT. For example, since a foreign company operating abroad is not a taxpayer in Turkey, VAT responsibility is entirely on the party purchasing the service or product. At this point, the responsible party, who will pay the tax instead of someone else, declares this tax to be paid with the VAT 2 Declaration. So, how should VAT 2 Declaration be prepared correctly?
How to Prepare VAT 2 Declaration?
Taxpayers who want to prepare a VAT 2 Declaration must fill in the Value Added Tax form prepared by the Revenue Administration completely with a black or blue ballpoint pen. Example of VAT 2 Declaration Declaration Forms of the Revenue Administration & Notifications You can reach from the page.
In addition, this declaration can be hand-delivered to the tax office to which it is affiliated. E-Declaration It can also be prepared online.
When is VAT 2 Declaration Submitted and Payable?
VAT 2 Declaration is declared until the next 26th of the month in which the relevant transaction takes place and is paid in the same way until the 26th of the month. In order not to skip these times Revenue Administration tax calendar now to get started.
So, how to calculate VAT 2 Declaration in order to be able to correctly enter the numbers in the declaration form?
What are VAT 2 Calculation Ways?
The calculation method of VAT number 2 is the same as VAT 1. Just because the payment obligation has changed, an arrangement has to be made between the buyer and the seller. You can also use various VAT calculation applications for these calculations. But first of all, it will be useful for you to know how VAT is basically calculated. When calculating the VAT amount;
- Determine the amount for which you will be charged VAT.
- Choose the appropriate product or service from the legal rates of 1%, 8%, or 18%.
- Multiply the amount you will receive VAT by the appropriate VAT rate.
For example, if a product worth 200 TL is subject to 18% tax;
200 x 18% = 36 TL VAT amount.
If 200 + 36 = 236 TL, this is the price of this product including VAT.
Normally, the company declares the VAT amount of 36 TL with a VAT 1 declaration. However, if the firm wants to make a calculation for VAT 2, the responsibility for paying VAT is shared between the seller and the buyer at a rate of 90%-10%.
In other words, it issues an invoice containing 200/36 VAT for the VAT amount determined as 1 TL for a service of 10 TL. At this point, the invoice total becomes 3,6 TL from the calculation of 200 + 203,6 TL. In this account, 200 TL is income and 3,6 TL is VAT. On the buyer side, this calculation is made in the same way at the rate of 9/10. In other words, the result of calculating 32,4 + 200 TL is 232,4 TL. After this process, VAT is also declared with 2 Declaration.
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