Chile Tax Setup
Following are the settings required to enable NetSuite to correctly generate the Chile tax reports provided by the International Tax Reports SuiteApp.
Chile Tax Control Accounts
Tax control accounts are automatically created upon creation of a Chile nexus. Go to Setup > Accounting > Taxes > Tax Control Accounts and make sure that you have the following tax control accounts:
|
Tax Control Account Name |
Tax Account Type |
|---|---|
|
VAT on Sales CL |
Sale |
|
VAT on Purchases CL |
Purchase |
|
VAT Liability CL |
Sale |
Chile Tax Types
Tax types are automatically created upon creation of a Chile nexus. Go to Setup > Accounting > Tax Types and make sure that you have the following tax type:
|
Tax Type |
Liability/Sales Tax Account Type |
Asset/Purchase Tax Account Type |
|---|---|---|
|
IVA_CL |
VAT on Sales CL |
VAT on Purchases CL |
For information about required tax codes for Chile, see Chile Tax Codes.