Do I have to register for VAT if I start business as a self-employed person or business operator?

If you estimate that your company's turnover for the financial year (12 months) will be less than EUR 15,000, the company does not have to be registered in the VAT register. The estimate should be done carefully, because if your turnover for the financial year is higher, you may have to pay VAT afterwards. If you find out later that the turnover exceeds EUR 15,000

• register in the VAT register immediately
• pay the value added tax for the entire financial year, including possible late penalty charges and interests.
• report self-assessed taxes for the full year.

If your business involves a lot of acquisitions that include VAT, you can voluntarily register in the VAT register. When registered in the VAT register, you may deduct VAT included in purchases made for business purposes.