We have a British subsidiary. We get VAT code "HOM...
# generalj
Jesper M
01/10/2023, 8:32 AMWe have a British subsidiary. We get VAT code "HOME" on all non inventory items for british customers, but we only want that for TAX registered companies. When it's a non tax registered customer, we want "UNDEF". This must be standard in some way but we can't figure out how
s
Stuart Anderton
01/10/2023, 8:47 AMYou can set a tax code in the Customer record which will override the one from the Item
j
Jesper M
01/10/2023, 8:51 AMOK! Thank you @Stuart Anderton
Jesper M
01/10/2023, 8:52 AMThese are all tax codes we have. And we run the international tax report. But if I read about it, we should have more of them. https://docs.oracle.com/en/cloud/saas/netsuite/ns-online-help/section_N2030237.html . Why is it like this?
s
Stuart Anderton
01/10/2023, 9:13 AMThey are determined by the Nexus and the Tax Schedule I believe
j
Jesper M
01/10/2023, 9:29 AMYes, but according to Netsuite, the Nexus shall automatically add the correct vat codes. Isn't that strange?
Jesper M
01/10/2023, 9:33 AMMaybe I'm reading about the VAT codes before Brexit. Nevermind my questions!
s
Stuart Anderton
01/10/2023, 9:38 AMNothing changed about UK VAT with Brexit. We still have Standard, Reduced, Exempt and Zero
Stuart Anderton
01/10/2023, 9:40 AMAlso whether or not you charge VAT doesn't depend in the Customer's VAT registration
👍 1
j
Jesper M
01/10/2023, 11:41 AMI meant vendor, not customer. Mixed it up, sorry
s
Stuart Anderton
01/10/2023, 1:20 PMSame applies - you can override VAT by setting a code in the Vendor record.
j
Jesper M
01/10/2023, 2:05 PMYes, thank you
2 Views