Generating Localized Country Tax Reports

Tax Reporting Framework provides your account with the Country Tax Report page where you can generate VAT/GST reports, supplementary VAT/GST reports, EU cross-border reports, and tax audit files.

Note:

If you are generating a country tax report for the first time, you must first confirm the reporting preferences for each unique subsidiary and nexus combination. To confirm the reporting preferences, click Confirm on the Confirm Preferences popup window on the Country Tax Report page. If you want to change the default preferences, click the link on the Confirm Preferences window to go to the Country Tax Reports Preferences page. Only administrators and accounts with full permission to Country Tax Reports Preferences can confirm or modify reporting preferences. For more information about setting up reporting preferences, see Setting Up Country Tax Reporting Preferences.

You can see the differences in the features that are available in both accounts with and without SuiteTax. See Feature Differences Between Accounts With And Without SuiteTax.

The following describe the steps needed to generate a tax report in accounts both with and without SuiteTax:

To generate a tax report in accounts with SuiteTax:
To generate a tax report in accounts without SuiteTax:

To generate a tax report in accounts with SuiteTax:

In NetSuite, go to Reports > Tax > Country Tax Reports.
From the Subsidiary list, select a subsidiary.

In SuiteTax environments, all subsequent fields are determined based on the selected subsidiary. For more information, see Setting Up Country Tax Reporting Preferences.
From the Nexus list, a default nexus is selected.

If you have multiple nexuses in your subsidiary, you may choose a different nexus from the list.
From the Report Name list, choose the report that you want to generate.

If the report is not available on the list, then you are missing a SuiteApp required for generating localized tax reports. Refer to the table on Tax Reporting Framework Localization Requirements and install the required SuiteApp.
The Reporting Frequency field displays the reporting period of the selected report.

To configure this autocomplete feature, see Setting Up Country Tax Reporting Preferences.
From the Start Period/Start Date list, select the starting period or starting date of the report.

The Start Period list uses accounting periods as reference points whereas the Start Date list uses tax point dates as reference points. The list varies whether the Use Tax Point Date feature is enabled on the report. To configure this field, see Use Tax Point Date in Setting Up Country Tax Reporting Preferences.
The End Period/End Date field displays the automatically calculated end period or end date for the report. You can override this field by choosing a different period or date on the list.

The End Period/End Date field calculates the ending period or ending date of the report based on the Start Period/Start Date and Reporting Frequency fields. Make sure to consider the starting period or starting date and reporting frequency of the report before you override the End Period/End Date field. Overriding the autocalculated end period or end date may result in a mismatch on the reporting frequency of the report and cause report generation errors.
In the Accounting Book field, select an accounting book to use in generating the tax report. The Primary Accounting Book is selected by default. For more information, see Multi–Book Accounting and Adjustment-Only Book Support in Tax Reporting Framework.

Note:
The country tax report provided through the localization SuiteApp must be multi-book accounting compatible to use this feature.
(Optional) From the Accounting Context list, select an accounting context you want to apply in the report. This filters which account names and account numbers are included in the report based on their accounting context.

Note:
The Accounting Context field is only available in OneWorld accounts with and only for compatible multi-book accounting reports.
(Optional) Click Use Nexus Currency to override subsidiary currency settings and generate the report in nexus currency

Note:
The Use nexus currency box is only available for compatible VAT country reports.

Note:
During the recalculation from subsidiary currency, the nexus currency value is rounded up to two decimal places.
Click Generate.
On the Report Execution Log subtab, locate the generated report. The latest generated report displays at the top of the list.
In the View | Download column, wait for the loading bar to complete and change to a View or Download link.

If the country tax report covers a long period, the report generation may take a few minutes to complete. You will then be notified via email when the report becomes available for viewing.
Click View or Download to open the report.

Tip:
Allow popup windows in your web browser to let NetSuite download the file.

To generate a tax report in accounts without SuiteTax:

In NetSuite, go to Reports > Tax > Country Tax Reports.
From the Subsidiary list, select a subsidiary.

In SuiteTax environments, all subsequent fields are determined based on the selected subsidiary. For more information, see Setting Up Country Tax Reporting Preferences.
From the Nexus list, a default nexus is selected. If you have multiple nexuses in your subsidiary, you may choose a different nexus from the list.
From the Report Name list, choose the report that you want to generate.

If the report is not available on the list, then you are missing a SuiteApp required for generating localized tax reports. Refer to the table on Tax Reporting Framework Localization Requirements and install the required SuiteApp.
The Reporting Frequency field displays the reporting period of the selected report.

To configure this autocomplete feature, see Setting Up Country Tax Reporting Preferences.
(Optional) Enable or Clear the VAT Group Reporting box to enable or disable VAT group reporting for this report.

VAT Group Reporting allows you to consolidate VAT reporting of your parent and child subsidiaries with the same nexus. Transactions are consolidated in the parent subsidiary, where the VAT report is generated. Amounts are also shown in the parent subsidiary's base currency. Generating VAT reports with this option can be completed in the parent subsidiary and on the primary accounting book only.
Select a date from the Start Period and End Period list. Tax Reporting Framework uses tax periods when generating tax reports in Non-SuiteTax environments. See Tax Periods Overview for more information.
In the Accounting Book field, select an accounting book to use in generating the tax report. The Primary Accounting Book is selected by default. For more information, see Multi–Book Accounting and Adjustment-Only Book Support in Tax Reporting Framework.

Note:
The country tax report provided through the localization SuiteApp must be multi-book accounting compatible to use this feature.
(Optional) From the Accounting Context list, select an accounting context you want to apply in the report. This filters which account names and account numbers are included in the report based on their accounting context.

Note:
The Accounting Context field is only available in OneWorld accounts with and only for compatible multi-book accounting reports.
(Optional) Click Use nexus currency to override subsidiary currency settings and generate the report in nexus currency

Note:
The Use nexus currency box is only available for compatible VAT country reports.
Click Generate.
On the Report Execution Log subtab, locate the generated report. The latest generated report displays at the top of the list.
In the View | Download column, wait for the loading bar to complete and change to a View or Download link.

If the country tax report covers a long period, the report generation may take a few minutes to complete. You will then be notified via email when the report becomes available for viewing.
Click View or Download to open the report.

Tip:
Allow popup windows in your web browser to let NetSuite download the file.

If you are generating tax audit files and the download does not start or if you receive incomplete files, check your browser settings and ensure that popup windows coming from NetSuite are not blocked. Then, click the Download link to restart the file download. For more information about tax audit files in Tax Reporting Framework, see Tax Audit Files in Tax Reporting Framework.

To drill down the generated report, see Viewing a Generated Country Tax Report.

To make adjustments on a VAT/GST report, see Making Adjustments on a Country Tax Report.

To export your generated country tax report, see Exporting a Country Tax Report.

To generate a tax report in accounts with SuiteTax:

To generate a tax report in accounts without SuiteTax:

Related Topics