A VAT return – is a balance document, which indicates the amount of VAT due on sales (also known as the output VAT) and the amount of VAT that can be returned on purchases (also known as the input VAT), hence providing detailed information about how much VAT is paid and how much can be reclaimed from the local tax administration.

Periods of VAT returns
The periods of VAT report mostly depend on the turnover of the company, number of deals within the EU and on the legislation of the specific EU Member State. Most common periods for VAT returns are:

On monthly basis: 1) for EU companies with large turnover and large amount of transactions; or 2) typical for such EU States as Bulgaria, Poland, Czech Republic;
On quarterly basis: typical for such countries as Cyprus, Austria, the Netherlands;
On semi-annual basis: this period term is used rarely for companies with limited activity or 2) companies which are newly registered for VAT (for example, Cyprus);
On annual basis: 1) in some EU States Annual VAT Return is used as additional report uniting all monthly or quarterly VAT declarations submitted throughout the year (for example, in Italy); or 2) this period can be used for non-active companies, which have VAT numbers.
We must note that more and more EU Member States move to monthly VAT returns, due to the toughened compliance and increased amount of intra-community deals, and especially, increased amount of fraud deals with 0% VAT rate application.

Information indicated in the VAT return
Each Member State draws its own rules for VAT returns, but there are some common guidelines for all VAT declarations:

Totals of all incoming and outgoing invoices (dis-regardless, made with EU or non-EU companies);
Totals of VAT for all incoming and outgoing invoices (including all types of VAT rates: standard VAT rate and reduced VAT rate);
VAT amount due (total of VAT payable to the government);
Total of intra-trading supplies with 0% VAT rate (including names of countries, where the goods come from and where they are delivered to).
Besides periodic VAT declaration VAT scope of work includes:

EC Sales Lists (ECSL) and Intrastat forms;
VAT Refunds;
EORI number requirements.