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Value Added Tax (VAT) is an indirect tax on the consumption of goods and services. VAT is levied at each stage of the supply chain where value is added from initial production to the point of sale.
Setting up VAT
The following table lists articles that can help you get started with VAT in Business Central.
| Article | Description |
|---|---|
| Set Up Value-Added Tax | This article provides information to help you correctly calculate, post, and report on VAT for sales and purchases. |
| Posting Group Setup | This article provides an overview of the VAT and other posting groups you can use to save time and avoid mistakes when you post transactions. |
| Set up nondeductible VAT | This article provides information about how to properly to set up nondeductible VAT related to percentages and accounts. |
| Set Up Unrealized Value Added Tax | If you use cash-based accounting, this article provides guidance about how to specify handling unrealized VAT for sales and purchases. |
| Set Up a VAT Statement | This article provides information to ensure that you know how to set up a VAT statement template and names to meet changing tax authority requirements. |
Using VAT features
The following table lists articles that can help you start using VAT features in Business Central.
| Article | Description |
|---|---|
| Work with VAT on Sales and Purchases | This article describes various ways to work with VAT using a manual or automatic setup. This article guides you on how to meet country/region-specific regulations. |
| VAT reports | This article provides information about the built-in reports for VAT. |
| Submit VAT Reports to Tax Authorities | This article explains how to prepare reports that list VAT from sales during a period, or from sales and purchases, and then submit the report to a tax authority. |
| Use nondeductible VAT | This article explains how to use and report nondeductible VAT. |
| EU third-party purchase transactions | This article covers how to handle cases where European Union (EU) third-party trade involves multiple EU countries. For example, when you receive a purchase invoice from a customer in one EU country/region and you send the products to another without entering the country of residence. |
| Managing VAT Rate changes | This article describes how you can use the VAT rate change feature to change VAT rates based on local legislation. |
| Validate VAT Registration Numbers | This article explains how to validate VAT registration numbers for your contacts, customers, and vendors based on the EU VIES VAT Number Validation service. |
| Multiple VAT registration numbers | This article describes how to set up multiple VAT registration numbers (as an alternative VAT rate) for customers who operate in different countries/regions. |