VAT: How to apply tax on (Sales Price - Purchasing Price) for particular tax-exempt suppliers (i.e. artisans)
I am new to Odoo and we have a special arts and crafts tax regulatrion. I need the VAT I pay to be charged only in benefits not in the total selling price and I don't know how can I create in suppliers. Thank you. Eva
Well, that is not that easy. Just a rough idea:
I assume you have 3 accounts concerning VAT administration, 1 for the VAT owed (sales), 1 for the VAT to receive (purchases), 1 for VAT settlement.
Create 2 additional tax codes, 1 for VAT artisans purchasing (tax excluded from price), 1 for VAT artisans sales with the regular tax rates and accounts.
Create an additional purchasing tax code VAT artisan write-off with a tax rate of 100% (or maybe 0%??) and a corresponding income account.
Create a write-off journal for this income account.
Now post a artisan purchasing invoice the regular way. For the reconciliation do a write-off in the same amount as the tax calculated using the corresponding write-off journal.
For filing the VAT return you calculate the corresponding tax base like (VAT artisan sales net amount - VAT artisan purchasing net amount) and the corresponding tax amount like (VAT artisan sales tax - VAT artisan purchasing tax).
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|Asked: 2/14/16, 2:31 PM|
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|Last updated: 2/16/16, 4:27 AM|