Colombia VAT Report
If you have a Colombia subsidiary and nexus and you have the International Tax Reports SuiteApp installed in your NetSuite account, you can generate the tax report for Colombia in English or Spanish.
The NetSuite VAT/GST tax form is designed to look like the official tax form for ease of use, but it is not intended to be printed out for submission to the tax agency.
To enable NetSuite to track taxes and generate tax reports, make sure you have the correct tax set up and tax code settings for Colombia. For information, see:
NetSuite gets the values in the report from your transactions, but some boxes in the form may require you to manually enter data. It is important that you save a PDF file of the report for your own records because NetSuite cannot audit manually entered data. For information, see Generating VAT/GST Reports.
You should review all the values in the report. You can click the values in the boxes of the VAT report to view details.
You can also use customizable saved reports provided by the International Tax Reports SuiteApp to view both detail and summary reports for purchases or sales, grouped by tax code. For more information, see Sales and Purchase Reports Grouped by Tax Code.