• From: Nicaragua, Managua
  • Registered: 12/31/2010
  • Posts: 24

Topic: Tax hidden in the Invoice

In my country when I sell some product, I paid 15% of IVA, 1 % of IR and 2% of Municipal tax.

For example, I sell a product for US$ 100.00

Tha Invoice is:

US$ 100.00 (product)
US$   15.00 (IVA, sell tax)
Total US$ 115.00

But when I paid my tax every month, I need to paid front this US$ 100.00 the fallowing:

1% of IR = US$ 1.00
2% of Municpal tax = US$ 2.00

Questions?

How can I do for make I report each month,  the total that I need to paid to the Tax, IR and Mucipal Tax separately?

Thanks,

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

Re: Tax hidden in the Invoice

I don't quite understand this. You are collecting 15% IVA from your customers, but you are only paying 3% to the tax authorities.
Where is the 12% going?
To pick up the tax report would be impossible, due to you are working on the same outgoing tax.
You would either set the tax rate to 15% and manually calculate the 1 and 2% of the outputs from the report.

/Joe

  • From: Nicaragua, Managua
  • Registered: 12/31/2010
  • Posts: 24

Re: Tax hidden in the Invoice

I paid 15% of IVA.

Plus 1% of I.R. and 2% of Municipal tax.

The 1% and 2% is include in the US 100.00, in other word at final I recive US$ 97.00.

How can I do for make a report and each time that I meake an Invoice afect three (Include IVA, I.R,. and Municiapl TAX) account in the GL?

Thanks.