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Germany Nature of Transaction Codes Update for Accounts Without SuiteTax

in Announcements

This notice applies to your if your NetSuite account has a Germany subsidiary and you have installed the International Tax Reports SuiteApp.

As of January 1, 2022, new Nature of Transaction Codes (NoTC) should be used for all transactions between Germany and other EU member states.

The new NoTCs will be available on the Manage Tax Reporting page after the International Tax Reports SuiteApp version 3.122.0 release, targeted for January 25, 2022.

What Is Changing?

Starting January 1, 2022, the following NoTCs will be used for all transactions between Germany and other EU member states.

Recommended Actions

For accounts with an existing Germany subsidiary, you must do the following on or before

Regards,

@Robert Nedelkow-Oracle | NetSuite Support Community Administrator

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