Please note that Holvi does not report self-assessed taxes (VAT information) to the tax authorities on your behalf. Holvi lets you track your VAT balance and pay it effortlessly without disrupting your books – but you’ll still need to report it yourself.
- Read how to do this in Finland
- Read how to do this in German (link in German)
To check your VAT balance, log in at Holvi.com and go to Bookkeeping > VAT report. In your Estimated VAT section, you’ll see how much VAT you need to pay – or how much you’ll get back from the tax office! Learn how we calculate this.
How to pay VAT from Holvi
After you report your VAT to the tax authorities, you have two ways of paying VAT from Holvi. You can either:
- Pay VAT directly to tax authorities from Holvi
- Pay VAT to a separate bank account and move the money the tax authorities
Here's how to do it in practice.
1. Pay VAT directly to tax account from Holvi
- Go to Transactions > New payment
- Add a subject (for your own records) and set the expense category as VAT payable
- Add the IBAN of tax authorities as the receiver
- For the amount, add the amount of VAT you want to pay. You can check your VAT payable expense category to see how much VAT you owe
- If you transfer the full amount of VAT payable, the category sum will drop to €0
- Or you can transfer a partial amount and the respective amount will be deducted from your VAT payable category
- Add a reference number (if you have it) or a message with your VAT registry ID or Business ID, along with the dates for which you’re paying VAT
Find a full breakdown of your VAT balance and activity in your VAT report.
- Paying VAT from Holvi to another bank account
- Follow the above steps but use your own IBAN instead of the tax authorities
When paying VAT from Holvi, always categorise the payment as VAT payable, this keeps your books tidy. Also, never use this category for anything other than VAT payments.