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Product Updates 410 and 409: Non-deductible VAT functionality supported in VAT control statement (Slovak legislation)

In this product update, the non-deductible VAT functionality has been incorporated to the VAT control statement. With this functionality enabled, you have the option to decide whether or not to apply coefficient on your VAT returns computation.

The non-deductible VAT functionality can be enabled by selecting the Non-deductible VAT check box under the VAT section in the General ledger settings screen, accessible via System ? General ? Settings. By selecting this check box, the Non-deductible VAT functionality is enabled for purchase journal entries. For more information on the usage of this functionality, see Non-deductible VAT.

Note: The non-deductible VAT code "N" has to be created manually in the Tax codes screen (System ? General ? Countries ? Tax codes) to generate the non-deductible lines when registering entries.

Changes in the VAT control statement screen (Finance ? VAT / Statistics ? VAT control statement)

The Coefficient field that was previously displayed in the Return section has been moved to the newly added Calculation method section. For more information on the coefficient feature in VCS, see Product Updates 408, 407, and 406: VCS (VAT Control Statement) in XML is now supported (Slovak legislation).

Once the non-deductible VAT functionality has been configured, the Use non-deductible VAT codes check box will be displayed next to the Coefficient field. The Coefficient field will be disabled if you have selected the Use non-deductible VAT codes check box, as shown in the following:

You can choose to apply either the coefficient or the non-deductible VAT codes in the tax return calculations. When the non-deductible VAT functionality is chosen as the calculation method, all amounts resulting from this method will be reflected in the corresponding sections such as Section B1, B2, B3, and C2 in the VCS XML file.

     
 Main Category: Support Product Know How  Document Type: Release notes detail
 Category: Release Notes  Security  level: All - 0
 Sub category: Details  Document ID: 26.496.880
 Assortment:  Date: 09-07-2015
 Release: 409  Attachment:
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