VAT is a tax levied on goods and services sold within the European Union (EU), and both iMIS and e-Series modules fully implement VAT. This allows you to tailor your organization's taxation method for the EU member countries in which you have operations. Applicable taxes then will be calculated automatically based on a customer's country.
The tax codes for the VAT taxation method will need to be set up in iMIS before they can be used. If these tax codes are not defined on the Product_Tax table, any taxes calculated will equal zero.
You will need to perform the following tasks in iMIS to implement VAT:
Note: VAT requires a separate license key. You must be licensed for VAT in order to enable VAT as a taxation method.
Note: Enabling VAT automatically disables the Default or Canadian taxation method for an organization. The VAT and Canadian taxation methods are mutually exclusive.
10.6 Production Release. Updated 1/5/2006 2:15:52 PM
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