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Intelligent Payment Automation version 1.0.3 is now available in the SuiteApp Marketplace. The SuiteApp, powered by BILL, lets you automate payments, manage vendor details, and bank account information within NetSuite. Learn more
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Join us for complimentary one-day events around the world and step into a future fueled by AI and limitless potential. Explore new breakthroughs, sharpen your skills, and connect with experts who are shaping what’s next. Experience bold keynotes, interactive learning, and connections that span the global NetSuite community. Discover what's next at SuiteConnect Tour 2026.
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
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.
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