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Hi,
How are VAT Reverse Charges handled in Dynamics RMS?
Thanks
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Do you mean Voids or Returns?
nope. I am referring to the VAT Reverse Charge in EU.
This charge negates the effect of the VAT charged on the item. The amount
of the reverse charge VAT is payable by the customer directly to the tax authority.
The reverse charge VAT is applicable if the following conditions are fulfilled:
• Your company is registered for VAT in the EU
• Your customer or vendor is registered for VAT in the EU.
• The items you deal in are specified as being subject to reverse charge VAT by the
tax authority.
OK....
You should be able to create a customer record for that organization. Under that customer properties goto the Customer Options tab and check "Customer is exempt from taxes"
I also suggest you enter there VAT number in "Tax ID Number".
When ringing up the transaction, assign this customer to the transaction using the F7: Set Customer button.
This will back out any sales / item taxes assigned to the items on the order.
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