I do not know if it is common, but here, there are instances where you must apply a negative VAT. For instance when I sell to certain customers, they "withhold" 1% of the VAT I am supposed to charge them. Vat here is 13%, so in this case, the customer pays me 12% and the 1% he withholds, he must give to the hated tax man.
rgrds Walter -----Original Message----- From: Paul Tammes <[email protected]> Reply-to: SQL-Ledger Users <[email protected]> To: SQL-Ledger Users <[email protected]> Subject: [SQL-Ledger] Re: VAT - Reverse charge in EU Date: Fri, 11 May 2012 16:37:37 +0200 Enlish is not my natve language either, and I am not sure what you want to do. There are a lot of sorts of VAT, at different percentages often. E.g. VAT witheld from customers and payable to the taxman. Low (6%) and High (19%) at the moment in Holland. Then there is VAT invoiced to us either low or high by suppliers and such. That VAT is receivable from the taxman, although normally it can be deducted from the payable amount and settled at once. The idea is that outgoing invoices should total a bigger amount than incoming, leaving a profit. And thus one has to pay more VAT then can be deducted. How you may want to or need to reverse the VAT charge is beyond me. You either charge your customer VAT and have to pay that exact amount to the taxman. Or you receive an invoice from a supplier, in which case you can reclaim the VAT on that invoice. A creditnote is the exact mirror image of an invoice, so the same reasoning can be used there. Only supplier and customer change sides. Hth, Paul PS: You do not by any means refer to the "tax included" tickbox one may or may not use on per customer / supplier? 2012/5/11 steve jobs <[email protected]>: > Hi, sorry my English it isn't my mother tongue. I have an important question > - for me - if somebody can help me. > > I'ld like to use Reverse charge (VAT) in ledger, how can I record invoices > with reverse tax on ledger? Do I need some special setup in ledger? > > Thanks > steve > > _______________________________________________ > SQL-Ledger mailing list > [email protected] > http://lists.ledger123.com/mailman/listinfo/sql-ledger > _______________________________________________ SQL-Ledger mailing list [email protected] http://lists.ledger123.com/mailman/listinfo/sql-ledger _______________________________________________ SQL-Ledger mailing list [email protected] http://lists.ledger123.com/mailman/listinfo/sql-ledger
