VAT on Export Report for Russia
This topic explains the implementation and usage guidelines for the VAT on Export Report for Russia feature.
The VAT on Export Report for Russia feature enables you to monitor the status of your export sales transactions. With this report you can:
- Identify export sales for which the export documentation is not fully confirmed.
- Monitor which export sales transactions have passed the grace days period, or for which the grace period will soon expire.
- See which export sales transactions are overdue and require a VAT on the export invoice for the unconfirmed amount.
The solution comprises the following components:
- VAT on Export Report for Russia.
This topic explains the implementation and usage guidelines, prerequisite setup, and important transaction entry aspects for the VAT on Export Report for Russia.
Complete the Setup
Complete the Receivables application setups and the related tax configuration.
Define Receivables transaction types for Export Sales, VAT on Exports, and VAT on Export refunds.
Export Sales Transaction Types
Create your export sales transaction types. You must enter the number of grace days allowed for each transaction type before a VAT on Export transaction is required.
VAT on Export Transaction Types
The VAT on Export transactions should be positive amounts. Also, consider other transaction attributes, such as whether these transactions should appear as Open Receivables.
VAT on Export Refund Transaction Types
The VAT on Export Refunds must be negative invoices. Again, consider carefully which other transaction attributes should apply for these transactions.
Security Privilege
The security privilege Prepare VAT Reports for Russia (JE_PREPARE_VAT_REPORTS_FOR_RUSSIA_PRIV) restricts access to the report submission.Assign the privilege to the roles you would like to provide access.
Enter Transactions in Receivables
Export Sales Transactions
When you know the date of export for a transaction, update the Export Date field in the Regional Information section for the transaction.
In addition, you must maintain the export confirmation amount each time you receive any customs confirmation documentation related to the transaction. Enter the cumulative amount in the invoice currency in this field.
The export confirmation amount should always be a positive amount.
VAT on Export Transactions
When an export sales transaction is not fully confirmed before the end of the grace period, you must create a VAT on Export invoice for the unconfirmed amount.
In the Cross Reference field, enter the transaction number of the export sales invoice to which it is related.
VAT on Export Refund Transactions
When you receive the export confirmation documentation after the grace period, you are able the claim back the related VAT amount.
Enter a VAT on Export refund invoice. In the Cross Reference field, enter the transaction number of the export sales invoice to which it is related.
You must also update the export confirmation amount on the original export sales invoice by adding the amount confirmed to the value already entered in the field.
Submit the VAT on Export Report
Navigate to the Scheduled Processes page and search for the VAT on Export for Russia process.
Enter your parameter criteria and submit the process.
Parameters
Business Unit (Mandatory)
Select the business unit for which you want to run the report. This must be a business unit to which your user profile has access.
As of Date (Mandatory)
The As of Date parameter is used to calculate the number of days overdue for a transaction based on the export date and the grace period days.
Note: The As of Date parameter value should not be earlier than the current date.
Entering a date in the future enables you to see in advance which export sales will soon become overdue and have not been fully confirmed.
Export Sales Transaction Type (Optional)
Leave this parameter blank to run the report for all your different export sales transaction types. Alternatively, select a specific transaction type to show in the report.
Customer (Optional)
Leaving this parameter blank will show all customers with export sales transactions of the type selected in the previous parameter.
You can select a specific customer if you want to see only their export sales transactions.
Show Fully Confirmed Exports
The default value is No. If an export sales transaction is fully confirmed, it will not be included in the report output.
If you want to see fully confirmed transactions, select the value Yes.
VAT Refund Time Limit in Years
The is the length of time after the grace period has passed, during which you may still obtain export confirmation documents and record a refund for the VAT on Export amount. Once this period has passed, you may no longer claim a refund, and the unconfirmed export sales transaction will not appear on the report.