- What is a monthly invoice?
- Where to find monthly invoices?
- What do the invoice elements represent?
- Where can I find all monthly invoices?
- How does VAT work?
- Is Bolt a foreign entity?
- Reverse tax liability
What is a monthly invoice?
The monthly invoice is a summary of the earnings (including bonuses) paid out to you and the commission paid to Bolt for all the completed trips in the previous month.
Where to find monthly invoices?
The invoice is sent out to the email address linked to your driver profile in the first three days of every month.
You can also find all invoices in the Invoices tab in the Driver Portal.
What do the invoice elements represent?
- App orders — our commission taken for all the trips you completed during the period stated
- Compensations — all bonuses and reimbursements (e.g. for missing tolls) you received from us.
Lower left section:
- Your balance at the start and end dates of the period stated
- App payments — the total of trips done during the month, including our commission
- Invoices — adjusted commission. The Invoices amount is the App orders (Bolt commission) minus any bonuses or reimbursements you have received.
- Payouts — a sum of all payouts made to you via bank transfer during the period stated
Lower right section:
- Total — the adjusted commission amount taken by Bolt (equal to the amount in the Invoices section)
- VAT - see Reverse tax liability.
To Be Paid section:
- If the amount is 0.00, you don't have any outstanding amounts that you owe; thus, no action is required from you
- If the amount is not 0.00, you either will receive more trips with in-app payment methods or will need to pay the commission you owe to Bolt via bank or mobile transfer.
Please note that excluding tolls and booking fees, there are no other additional or hidden fees on top of the commission automatically deducted from your account.
Where can I find all monthly invoices?
All invoices are available in:
Invoices for rides: Invoices for rides are issued by Bolt on the driver's behalf. Monthly statements with detailed VAT information are available in .csv and .pdf formats on the portal.
Invoices to drivers: Invoices for drivers or fleet owners have information on commission and are sent by Bolt Operations OÜ.
How does VAT work?
VAT is a tax assessed on the value that is added to goods and services. You can read more about VAT on the Tax Authorities website.
Is VAT paid by riders?
VAT for taxi services in Finland is 10%. When a rider requests and pays for a ride, Bolt charges them on behalf of the driver. VAT is included in the final price paid by a ride. VAT is shown on the ride receipts; this should also be reported to the local tax authorities.
Is Bolt a foreign entity?
According to the Terms and conditions, all drivers have a contract with Bolt Operations OÜ, based in Estonia. Payments are made by Bolt Operations OÜ. The company details can be found on all invoices.
Reverse tax liability
As Bolt is a foreign company, the monthly invoices from Bolt show VAT is 0% and the additional information states "VAT reverse charge".
VAT on Bolt’s commission
You as a driver must declare the VAT (24%) in Finland in the sections "Tax on service purchases from other EU countries" and "Deductible tax for the tax period".
VAT on bonuses
While you do not have to pay VAT on the bonus you receive, it must still be declared as your company's income. You must therefore declare the VAT ID of Bolt Operations OÜ: EE102090374 and the amount of the bonus in a separate VAT declaration and in VAT return under the "Sales of services to other EU countries" section.
Registration as a VAT payer
Registering yourself as a VAT payer is mandatory even if your annual revenue is less than 15 000 euros, as you receive invoices with "VAT reverse charge" from Bolt. You can register and check your reporting obligations on the Tax Authority website.