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Germany VAT Rate Reduction
This notice is intended for NetSuite accounts that have a Germany subsidiary and you have installed the International Tax Reports SuiteApp.Effective July 1, 2020 until December 31, 2020, the Value Added Tax (VAT) rates for Germany will be reduced from 19% to 16% (Standard Rate) and from 7% to 5% (Reduced Rate). Consequently, you will need to make changes to your tax codes in your NetSuite account to match the tax rate reduction.
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Regards,
@Robert Nedelkow-Oracle | NetSuite Support Community Administrator
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