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Automate VAT on Sales

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edited Jun 11, 2021 10:34AM in Tax & Global 1 comment

Content

Dears,

We are using Projects Module and We need to Automate VAT on Sales based on the below:

Tax rates:
11% on sales or 0%

Tax Rules:

"Contract Item/sub-task  is Subject to VAT? (Y/N)

N.B. :Not all Non- resident clients are exempted from VAT on sales

N.B. : We need to allocate VAT on sub-task level not contract level"

Example:

"We issue an invoice to the client with:

Task 1 - is subject to VAT - Amount is $120 - TAX APPLICABLE
Task 2 - is not subject to VAT - Amount is $100 - TAX NOT APPLICABLE

Invoice will be ((120x1.11) + 100) = $233.2"

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