What goes into each box – Italy VAT Report

The following table shows how NetSuite uses the tax codes to get the values for the Italy IVA 2011 Information report.

Box/Line Number	Description	Rate	Taxable Amount	VAT	Notional Tax
Calculations towards business turnover
VE22	Taxable sales within the State	Rate of S-IT	Sales net amount of S-IT	Sales tax amount of S-IT + Tax amount of sales adjustment in box VE22 with S
VE21	Taxable sales within State at reduced rate	Rate of R-IT	Sales net amount of R-IT	Sales tax amount of R-IT + Tax amount of sales adjustment in box VE21 with R
VE20	Taxable sales with State at super reduced rate	Rate of SR-IT	Sales net amount of SR-IT	Sales tax amount of SR-IT + Tax amount of sales adjustment in box VE20 with SR
	Total VE20 + VE21 + VE22
VE30	Intra-community Sales-Goods	Rate of ES-IT	Sales net amount of ES-IT
	Intra-community Sales-Services	Rate of ESSS-IT	Sales net amount of ESSS-IT
	Supply of Goods - exports to non-EU countries	Rate of O-IT	Sales net amount of O-IT
	Supply of Services - non-EU countries	Rate of OS-IT	Sales net amount of OS-IT
VE33	Exempt operations	Rate of E-IT	Sales net amount of E-IT
VE34	Operations subject to reverse charge	Rate of RC-IT	Sales net amount of RC-IT
VE32	Taxable sales - zero rated	Rate of Z-IT	Sales net amount of Z-IT
	Non-taxable operations	Rate of U-IT	Sales net amount of U-IT
	Business Turnover (sum of above) VE20 + VE21 + VE22 + VE30 + VE33 + VE34 + VE32
Purchases - Domestic, Intra-Community and Imports
VFX	Non-Deductible purchases		Non-deductible purchase net amount	Non-deductible purchase tax amount
VF11	Taxable domestic purchases	Rate of S-IT	Purchase net amount of S-IT	Purchase tax amount of S-IT + Tax amount of purchases adjustment in box VF11 with S
VF9	Taxable domestic purchases at reduced rate	Rate of R-IT	Purchase net amount of R-IT	Purchase tax amount of R-IT + Tax amount of purchases adjustment in box VF9 with R
VF2	Taxable domestic purchases at super reduced rate	Rate of SR-IT	Purchase net amount of SR-IT	Purchase tax amount of SR-IT + Tax amount of purchases adjustment in box VF2 with SR
	Reverse Charge – in country	Rate of RC-IT	Purchase net amount of RC-IT		Purchase notional amount of RC-IT
VF12	Taxable purchases – zero rated	Rate of Z-IT	Purchase net amount of Z-IT
VF13	Other non-taxable purchases	Rate of U-IT	Purchase net amount of U-IT
VF14	Exempt purchases	Rate of E-IT	Purchase net amount of E-IT
VF23	Intra community purchases of goods	Rate of ES-IT	Purchase net amount of ES-IT		Purchase notional amount of ES-IT
	Intra community purchase of services (reverse charge)	Rate of ESSP-IT	Purchase net amount of ESSP-IT		Purchase notional amount of ESSP-IT
	Import of Goods – non-EU	Rate of I-IT	Purchase net amount of I-IT	Purchase tax amount of I-IT
	Purchases of services – non-EU	Rate of IS-IT	Purchase net amount of IS-IT		Purchase notional amount of IS-IT

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