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Re: Accounting best practice: change VAT rate

by
Blanco Martin EIRL
- 12/16/2015 13:09:54
Torvald, 

Additionally, you should have VAT definition for sales and for purchases separatedly. So, there should be:

VAT Sales 8% (the current one)
VAT Sales 10% (new tax)
VAT Purchases 8% (the current one)
VAT Purchases 10% (new tax)

In the accounting, both sales taxes, should point to the same account, unless there is a special requirement to have them separated each other. Same for both purchases taxes.




Quedo atento a sus comentarios. Saludos:



Ing. Daniel Blanco
Director
Blanco Martín & Asociados
Móvil: +56 9 73880409 / +54 9 351 228-0893
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2015-12-16 10:59 GMT-03:00 Gustavo Orrillo <gustavo.orrillo@moldeointeractive.com.ar>:
Hi Torvald,

In Argentina we have different tax rates for VAT. Therefore we have multiple taxes in Odoo, on for each percentage. For instance, we have three different rates: 10.5%, 21% and 27% (no wonder this country is going to the dogs). Therefore we have three taxes defined in Odoo:

IVA (spanish translation for VAT) 10.5%
IVA 21%
IVA 27%

Hope this helps,

On Wed, Dec 16, 2015 at 9:04 AM, Torvald Baade Bringsvor <torvald@bringsvor.com> wrote:
Hi

Here in Norway we'll have a change in one of the VAT rates from January 1st, from 8% to 10%. The change is supposed to be applied for goods delivered after January 1st.

So what would the best way be to handle this? It seems to me that a new VAT rate has to be created for the 10% so that the accountants can choose themselves when sending invoices if an invoice should have 8% or 10%. And also when receiving supplier invoices we need to be able to handle both for a period.

Does this seem reasonable or is there a better way? I mean I'll probably have to test the VAT report to ensure that everything runs smoothly...

Torvald Baade Bringsvor
Bringsvor Consulting AS - Odoo (formerly OpenERP) implementation partner

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