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Margin Rate VAT for UK

in Ask A Guru 6 comments

Hi,

Has anyone used NetSuite to calculate the margin rate for VAT? For example, purchase of an item has no VAT attached then the VAT on sale is 16.67% of the margin (sales-purchase).

I have a customer with this VAT scheme for their resales and I need to find a way for NetSuite to calculate rate amount.

Does anyone have any experience with this?

Appreciate any advice.

Thanks

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