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NetSuite has launched SuiteSuccess Wholesale Distribution Edition, in Japan. Please join us the webinar on February 12 that introduces NetSuite solution with demos and case studies for Wholesale Industry.
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UK VAT Rule Changes Related to EU Exit
This notice is intended for NetSuite Accounts that have a United Kingdom (U.K.) subsidiary or a European Union (EU) subsidiary and you installed the International Tax Reports SuiteApp.
What is Changing?
The United Kingdom (U.K.) is slated to exit the European Union (EU) on January 31, 2020 under the Brexit Withdrawal Agreement. However, the U.K. will remain within the EU VAT regime, Single Market and Customs Union during the exit transition period until December 31, 2020. This means that the necessary tax setup features and VAT reporting changes for the UK VAT100 return will be effective on January 1, 2021.
The following guidance is issued by the U.K. government on the changes for VAT rules and implications for goods and services traded between the U.K. and the EU:
Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
In case you know someone who is new to NetSuite, we encourage you to direct them to our newly launched "New to NetSuite" page. This page is specifically designed to offer them information and guidance and help them make the most out of their NetSuite journey. Click here for more details.