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ReportWhat does NR stand for in the List of Tax Codes ? ex. EU IMPORT NR 0%
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What does NR stand for in the List of Tax Codes ? ex. EU IMPORT NR 0%
Hello Shivvy,
We don't have an out of the box tax detail code set up named 'EU Import NR 0%, so likely someone created it on your install.
I can't be sure what whoever set it up meant, but typically when it comes to taxes, 'EU" stands for European Union, and 'NR' stands for Non-resident.
It's typical to set up a 0% tax, so no taxes are applied, but the full document amount can be included in the 'net sales/purchasing' totals in Boxes 6-9 on the VAT return.
Hope that helps,
Cheryl Waswick
Microsoft Dynamics GP support
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