Understanding Intrastat Reporting
Intrastat reporting on the physical movement of goods between European Union (EU) member states is available if you implement PeopleSoft Order Management, Inventory, Purchasing, Payables, and Billing. Each EU country may require different information on Intrastat reporting forms. You define that information with Intrastat characteristics. PeopleSoft delivers populated tables that contain fiscal regimes or statistical procedures, and nature of transaction codes. You can add to or change the values.
The system automatically compiles the transactions that are described in the next sections for Intrastat reporting.
Note: The Intrastat Reporting topic provides information about Intrastat reporting and the functionality that PeopleSoft provides to facilitate Intrastat reporting. It is not to be construed as tax advice nor is it intended to document all the ramifications of reporting for Intrastat. Please consult your tax professional to insure your full compliance with the laws and regulations dealing with Intrastat transactions and Intrastat reporting.
Dispatches
The following types of transactions are defined as dispatches:
Shipments that originate from sales orders in PeopleSoft Order Management.
Shipments that originate from interunit orders in PeopleSoft Inventory.
Return-to-vendor transactions that originate in PeopleSoft Purchasing.
Financial adjustments that originate in PeopleSoft Billing.
Arrivals
The following types of transactions are defined as arrivals:
Purchase receipts that originate in PeopleSoft Purchasing.
Interunit receipts that originate in PeopleSoft Inventory.
Inventory receipts for material that is returned from customers.
Financial adjustments that originate in PeopleSoft Payables.
You select the default nature of transaction codes and fiscal regimes or statistical procedures for each of the transactions that the system compiles. Change the default values, or enter other transactions that don't compile automatically.
The Intrastat Transaction Loader process populates the Intrastat transaction tables with transactions that are eligible for reporting. After the tables are populated, define the information to include on a report. You can also print a draft or final copy of an Intrastat report and drill down to report details. The application documentation describes how it handles Intrastat transactions.
Field or Control |
Description |
---|---|
VAT entity (value added tax entity) |
Represents the level within an organization at which the VAT and Intrastat returns are filed. Each VAT entity includes one or more PeopleSoft General Ledger business units. |
Dcmnt ID (document identification) |
Assigned to information about an Intrastat transaction. |
Destination Country |
For dispatches, indicates the country to which the goods are shipped. |
Consignment Country |
For arrivals, indicates the country from where the goods are shipped. |
VAT Registration ID (value added tax registration identification) |
The ID that is used for Intrastat reporting by organizations located in European countries. |
Flow |
Designates the direction of the movement of goods, such as dispatch or arrival. |
EU Commodity Code (European Union commodity code) |
Codes that classify the goods that are reported on the Intrastat return. The EU commission publishes these codes. |
Nature of Transaction Code (NOTC) |
The NOTC is made up of 2 digits and is used for the Intrastat return:
|
Rate Type |
Currency exchange rate type that is used when the calculation of Intrastat reporting amounts is required. |
Region of Origin |
For dispatches, refers to the region in which the item is originally produced or assembled. |
Region of Destination |
For arrivals, refers to the region in the arrival country in which the goods are to be used. |
Country of Origin |
For arrivals, indicates the country in which the goods are originally produced. |
Country Type |
Defines the format of the country code designation. Options are two character, three character, or three digit numeric code. |
Transport Mode |
Determines the shipment method for goods. |
Port/Airport of Unloading |
For arrivals, the port or airport in the arrival country where the goods are unloaded. |
Port/Airport of Loading |
For dispatches, the port or airport in the dispatch country where the goods are loaded. |