• From: Malta
  • Registered: 04/06/2012
  • Posts: 123

Topic: 0% VAT once again

Hello,

When filling the VAT Return, one has to fill in the amount of sales and purchases of items and services that have a 0% VAT, also, in a separte location one has to fill the amounts of Intra EU and Out of EU 0% VAT amounts.

In my setup under Tax Types, I created two different 0% VAT (TAX) types and each is linked to a different GL Account.
Then I created relevant TAX Groups as well and also created Item Tax Types.

Then I created Items that use one or the other of the 0% VAT Types.
After issuing some invoices, I issued the TAX report, but the 0% VAT entries (amounts) remain 0.00

What am I missing?
Thanks and regards
Carmelo

  • From: Malta
  • Registered: 04/06/2012
  • Posts: 123

Re: 0% VAT once again

The problem has been solved.
In the local VAT system, the word Exempt is used to denote that certain items are Exempt of paying VAT.
There is a dropdown in "Items Tax Types" that says "Items Fully Exempt". If this is set to YES then no tracking is kept.
If you need the amounts of sales and purchases under a particular Item Type, this dropdown must be set to "NO".

Carmelo