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Product Updates 410, 409 and 408: New VAT return structure introduced in 2015 (Luxembourg legislation)

In this product update, several changes have been made to the system to support the new tax rate set by the Luxembourg tax authorities effective January 2015. To adopt the new VAT structure, you must convert your current structure by clicking the newly-added VAT boxes conversion button in the VAT codes screen. This is a one-time process only. The button will be displayed automatically only if there is an existing structure and will be hidden once the conversion process is over. Before you begin, make sure all returns for 2014 have been finalized and processed.

Note: It is advisable that you perform manual verification on the VAT boxes to ensure they are linked to the correct VAT codes after the conversion.

The new structure takes effect only after the conversion process has completed. Otherwise, the existing structure remains. The new structure encompasses changes on the following elements:

  • New layouts for both monthly and quarterly VAT return declarations. For samples of the forms, see Monthly VAT return form and Quarterly VAT return form.
  • New XML file structure to store the values for all the newly-added boxes. You can access the XML file in the location predefined at Export directory under the XML section in the Value added tax screen.

For more information on the past enhancements of VAT returns, see Product Update 399: Enhancement to Value-Added Tax (VAT) returns (Luxembourg Legislation).

     
 Main Category: Support Product Know How  Document Type: Release notes detail
 Category: Release Notes  Security  level: All - 0
 Sub category: Details  Document ID: 26.342.475
 Assortment:  Date: 09-07-2015
 Release: 408  Attachment:
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