• Registered: 01/07/2012
  • Posts: 16

Topic: Tax

hello.

Here is the situation.

At the moment I am not VAT registered which means I cannot claim back VAT from my customer. So far so good. I do not have any problem.

However, I have applied to be a VAT registered company which means I will have to claim back the VAT which my customers paid. Thus this means that I will have to put all previous as well as new customers on tax 15%.

When I run the report, how does it affect the previous enties when i was not VAT registered?

  • joe
  • Administrator
  • Offline
  • Registered: 03/15/2007
  • Posts: 5,107

Re: Tax

Your tax registration date will set the date where you start taxing your customers. You just prepare the new tax type and group and put them on your customers/branches.
There is no retroactive taxing. Otherwise it is a good idea to discuss this with a local accountant.

/Joe

  • Registered: 01/07/2012
  • Posts: 16

Re: Tax

thanks Joe