Summary Notification (SN) is a regular report on certain intra-Community supplies and services to the Federal Central Tax Office. It is based on the data provided in the Financial accounting recorded revenues.
Basics
Companies that make intra-Community supplies or certain other services to entrepreneurs in other EU member states are obliged to report these transactions separately.
The reported data results from properly recorded Booking entries and the correct Account assignment.
Legal framework
The obligation to submit the recapitulative statement is governed by turnover tax law. The statement must be submitted electronically to the Federal Central Tax Office.
Note: The reported turnovers must correspond to the VAT pre-registration.
Systematic classification
The ZM is closely related to:
- VAT Return
- Reverse charge procedure
- Current financial accounting
It is not a standalone accounting process, but rather a supplementary report based on existing accounting.
Requirements
- Recording of intra-Community supplies
- VAT identification number check
- Vat return reconciliation
- Timely electronic submission
Typical procedure
- Determination of taxable turnover
- Reconciliation with financial accounting
- Creation of the electronic report
- Submission to the Federal Central Tax Office
Practical relevance
Discrepancies between financial accounting, VAT pre-registration, and recapitulative statements can lead to queries. Clean reconciliation is therefore essential.
Typical sources of error
- Incomplete intra-Community supplies
- Invalid VAT identification numbers
- Discrepancies with the VAT pre-registration
FAQ
What is the summary report?
A report on specific intra-Community supplies to the Federal Central Tax Office.
Who has to hand them in?
Companies with corresponding intra-Community transactions.
What is it based on?
On the revenues recorded and reconciled in financial accounting.
Conclusion
The recapitulative statement (ZM) is a legally required supplement to the VAT advance return and is based on proper financial accounting. Careful reconciliation of data is crucial.
Brasser Accounting Solutions GmbH is a specialised accounting service provider and part of a corporate group with Quint GmbH (tax consultancy/auditing) and Service Place Årjäng AB (Swedish tax office). BAS exclusively performs services according to § 6 No. 3 and 4 StBerG and does not provide tax or legal advice.
