100104MX VAT refund

A VAT refund occurs when the VAT input value exceeds the VAT output value for a VAT reporting period. The VAT refund is submitted electronically.

Mexico specifics

If the amount of input VAT or credit VAT that is recoverable in a month exceeds the amount of output VAT or debit VAT that is payable, the excess credit is carried forward to offset output tax in the following tax periods. Alternatively, you can request to have excess credit refunded.

How Infor meets the requirement

FSM keeps track of the tax amounts, both input and output tax. Use the VAT Return Report to generate the tax details for VAT transactions. Use the report to identify whether there is a VAT refund for the period. The refund is handled outside of the Infor solutions.