About the EU VAT Report

The EU VAT Report extracts information for boxes 1-7 from invoice and voucher sales tax information, and boxes 8 & 9 from Invoice Register and A/P Voucher Register line items, grouped by tax code.

Note: If process indicator is 3 for a transaction, then that amount will not be included in the total for box 8 or box 9.

On invoicing, charge VAT when your customer is domestic or located in another member state, and when the customer is not registered and arranges for the transport of goods from another location. These cases are identified by a blank tax code on the CO and for the customer. Otherwise, enter a zero-rated tax code in the CO and for the customer. If you can define the transaction as distance selling, you must know the threshold of the customer, and fill in the tax codes when appropriate.

If you charge the United Kingdom's VAT to an EU customer who then provides a valid VAT registration number from an EU country other than the U.K., you can adjust the VAT by issuing a credit/debit note. (To issue a tax-only adjustment, use the Price Adjustment Invoice activity in Customer Order Entry.)

Note: If EU VAT is exempt, and is assessed but not deductible, accounting entries will be posted to the journal as follows: