When are VAT returns typically due for submission and payment?

VAT returns are typically due for submission and payment on the 7th calendar day after the end of the month following the return period. This means that if a business is operating on a quarterly VAT return cycle, the deadline will allow for businesses to gather all necessary information for the quarter and prepare their submission accordingly.

This timeline is designed to give businesses sufficient time to account for sales, purchases, and any applicable VAT due, ensuring accuracy in both reporting and payment. It is a standard practice that facilitates efficient management of VAT obligations and helps maintain compliance with tax regulations.

Other timelines might seem appealing but do not align with the established requirements for VAT return submissions, possibly resulting in late submissions and associated penalties or interest charged on overdue payments. Understanding and adhering to this specific requirement is essential for businesses to manage their VAT liabilities effectively.