As a bunq Easy Money and Easy Green Business user, we want you to enjoy features that save you time, every time. This will give you the freedom to grow your business the way you want 📈.
We're excited to bring you Auto VAT, an Update 11 feature. Now you can waste zero time setting aside your VAT. Instead, we'll do it for you!
What is Auto VAT?
With Auto VAT, you'll never have to worry about setting aside VAT for the Tax Man. Instead, your bunq app will automatically do it for you. No sweat!
How does Auto Vat work?
To see how to set up Auto Vat in the bunq app, check the steps below:
- Go to Home
- Select the sub-account that will receive the VAT
- Press on the ⚙️ Settings button
- Choose 🟪 Auto VAT
- Enable Auto VAT and you will see options to change the percentage and choose which are the accounts that you will enable Auto VAT
How do I set up Auto VAT in the bunq app?
Check out this page to see how to do that.
Who can use Auto VAT?
Auto VAT is available for all bunq Easy Money and Easy Green business users 💼.
What VAT % is calculated?
To save you time, we automatically set the % amount based on your location. See more information about how we calculate the VAT.
Can I change % amount for Auto VAT?
You’re always free to choose the % that best applies to you! In the Netherlands, for example, you can switch between the standard 9% or 21% VAT whenever you need to.
My company receives payments where no VAT is applied on the bill. How can I arrange that with Auto VAT?
The best way to arrange that is to use two different bank accounts for receiving the payments:
You can have one account where all the companies from your country pay you, and that can be enabled for saving Auto VAT.
Then you can have a bank account for companies outside your country to pay you, and that can be disabled for Auto VAT 🙌
Do I get interest on my Auto VAT account?
Yes, you get interest on your Auto VAT accounts just like all your other bunq accounts!
Want to learn more?
Explore more bunq knowledge here. 🌈