VAT 625 Tax Codes with 100% Tax Rate
The Belgium Localization SuiteApp provides tax codes that charge a 100% tax rate. You can use these tax codes for import taxes and adjustments of tax liability. For example, these tax codes can cover situations when your freight forwarder paid taxes to Customs on your behalf for goods imported from outside of the European Union.
These tax codes can be applied to boxes 61, 62, and 91 of the VAT 625 report. For more information about the default tax code filters in the VAT 625 report, see Periodic VAT Return 625.
Besides charging a 100% tax rate, the tax codes provided by the SuiteApp have the following properties:
|
Tax Code Name |
Tax Type |
Payables Account |
Receivables Account |
Available On |
|---|---|---|---|---|
|
BE_TI |
VAT_BE_TI |
Tax on Sales Belgium |
Tax on Purchases Belgium |
Purchase accounts |
|
BE_TA |
VAT_BE_TI |
Tax on Sales Belgium |
Tax on Purchases Belgium |
Both |
If you created these tax codes on your own, you can keep them, but make sure that your manually created tax codes have these same properties in this table.
If the tax code’s properties do not match, the VAT report may result in incorrect values. To review your tax code records, go to Setup > Tax > Tax Codes.
If you want to use the tax codes that are provided by the SuiteApp instead, you can delete your tax codes and manually install the SuiteApp-provided tax codes. For more information, see Installing VAT 625 Tax Codes with 100% Tax Rate.