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Reverse charge VAT for services within EU

Do I need to configure a new access sequence for configuring a scenario for reverse charge for UK? Further more do I need to create a new Account key for this? Or is it a case of just creating a new tax code with both output and input tax maintained at 20% and assigned appropriate GL accounts for each of these? In this case does it not matter what tax type(input or output) I use when creating the tax code? The end goal is that the system then generates 2 lines one for credit and for debit of the same amount so the net effect to base value is 0. Could someone please guide me through this.

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1 Answer

  • Mar 18, 2017 at 05:49 AM

    Hi Sam,

    Yes, you have to create 2 account keys. And also you have to create 2 tax conditions with positive & negative sign. Here you have to create the account keys as input tax and maintain the accounts for the keys. Later create a input tax code and maintain the tax rate with +/- sign.



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