Video
Tax Report - Liquidazione Iva
What is Liquidazione IVA":
The VAT settlement is an operation that companies and VAT holders carry out to determine VAT credits or debts for a specific period of time.
In fact, all VAT holders are required to pay VAT by calculating the amount for both issued invoices and those received from suppliers.
Let's take a simple example to better understand what we are talking about:
To calculate the VAT credit, we need to multiply the taxable base, which is, for example, 14,000 euros, by 22 percent: 14,000 x 22 percent = 3,080 euros.
Similarly, we calculate the VAT due by multiplying the taxable base, in this illustrative case, 20,000 euros, by 22%: 20,000 x 22% = 4,400 euros.
The VAT we will have to pay will be: 4,400 - 3,080 = 1,320 euros.
When:
The payment of VAT can be made on a monthly or quarterly basis depending on the chosen accounting regime, ordinary or simplified.
In calculating the payment, only deductible amounts should be considered.
The VAT payment for the ordinary regime is monthly; the quarterly payment is limited to VAT accounts of service providers with annual revenues below € 400,000.00 or € 700,000.00 for other activities with the recognition of an interest of 1 percent.
Come funziona in Odoo:
In Odoo, in the Tax Report menu in Accounting, we have a specific report for VAT Settlement
Configurazioni:
First of all, make sure you have entered the periodicity of your VAT settlement and the fiscal year, the closing period reminder, and the journal in which to record the data. You can make these configurations from the Accounting module settings.
If applicable, enter the contact of your accountant/accounting firm within your company's business settings in the relevant field.
Flow in Odoo 19.
- Go to accounting - > Open the accounting menu - > VAT declarations
2. Select the opening date, fiscal year, and periodicity:
3. At this point Odoo will show you the tax return still pending, with related due date.
Click on the tax return:
4. Make sure to review all the items, once all the items are reviewed, the button Validate will appear available.
5. Submit the tax return and generate the LIPE XML file.
If you are at the end of the quarter, Odoo will automatically fill the form for the LIPE with the relevant information and generate the LIPE XML file
⚠️Odoo generates the XML only on the vat return of the last month of the quarter. So, if your fiscal year is 1Gen-31dec Odoo produce the XML only when you validate the tax return for March, June, September and December
Tax payer Code:
It will automatically take your Codice Fiscale, the one you set on your company's settings.
Declarant's Tax Code:
In the case where the external accounting company is making the declaration, Odoo will take the tax code of the contact you entered as the accounting company in the company's configuration form. If you have not entered anything in the Accounting Company field, this field will take your Codice Fiscale.
6. Once you confirm, Odoo will produce and attache the LIPE xml file.
Flow in Odoo 18
Vai a Contabilità -> Reporting -> Resoconto fiscale -> Report IVA.
- Periodic tax report
2. Yearly report
Important information about VAT yearly report:
The necessary configurations to manage the annual VAT declaration are not fully set up by default. The report is generated based on the VAT records, but the default list of taxes does not cover all the necessary configurations and records to complete it. As a result, only some sections are automatically filled in.
To ensure the accuracy of the report, the user must manually create the missing taxes and configure the VAT records to match the different sections of the declaration. This configuration may require tax expertise.
How do tax reports work?
The tax report is automatically compiled thanks to the tax grids that are entered in the tax configurations.
Based on the tax grids associated with taxes on invoices and credit notes, Odoo determines in which section of the report to record the amount of tax or the taxable base. By installing the Italian localisation package, a set of preconfigured taxes with their respective tax grids is available.
In the report settings, you can see which template grid each section of the report is linked to.
At the end of the period, in the tax report you will be able to see the difference between input VAT and output VAT, so you can know the exact amount of VAT to be paid to the State via the F24 form.
In Odoo, at the end of the period, you can finalise the Tax Report by clicking on "Closing Entry".
Odoo will automatically generate the necessary accounting entries to record the VAT liability and the corresponding payment, as well as produce the VAT statement PDF and the XML file.
If an invoice is created in the same period and the closing of the tax declaration is in draft, Odoo automatically updates the closing of the tax declaration with the new data.
Comunicazione LiPe
XML File Generation
As mentioned above, when you confirm the closing entry, Odoo will ask you for some information to fill in to generate the XML file:
In particular, the following fields are automatically filled in some cases:
Tax Code:
It will automatically take the tax code entered in your company's settings.
Declarant's Tax Code:
In the case where the external accounting company is making the declaration, Odoo will take the tax code of the contact you entered as the accounting company in the company's configuration form. If you have not entered anything in the Accounting Company field, this field will take your Codice Fiscale.
At the moment you click confirm, Odoo will generate the XML file.
Finally, you can download the XML file at any time from the Tax Report:
Altre info:
What happens if I create an invoice in a closed period?
In this case, Odoo will automatically move to the next month to account for the item:
Odoo will change the date from December to the next period when the financial year has not been closed:
