VAT reverse charge
VAT reverse charge is an anti-fraud measure which applies to the sale
and purchase of specific goods and services. These are typically high value, portable,
electronics such as mobile phones. The reverse charge procedure holds the purchaser liable to
account for the VAT on the sale.
VAT is not charged by the vendor. The invoice must show the value of VAT due under the reverse charge rules. It must state that the reverse charge applies, and that the trading account customer is required to account for the VAT.
How Infor meets this requirement
SyteLine can account for VAT reverse charges.
| Application | Setup or Actions |
|---|---|
| ERP | See the help topic about Handling VAT Reverse Charges. |