[Vtigercrm-developers] Seeking clarification regarding Taxes and Charges Enhancements in Vtiger

[Alan Lord (News)]

On 20/05/13 14:26, Mani Kumar wrote:
>
> Please clarify.
> Also if you have any references, models, thoughts please do share.

Hi Mani,

This is a very complicated area when you want to be international...

We are also a partner of OpenERP and there are many different ways to 
handle taxes and other accounting issues depending on country and type 
of product.

In the UK specifically:

Tax is usually on the post-discount price[1]

We have 2 sales taxes that actually have a value (currently 20% & 5%) 
and two more that are 0% but must also be "accounted" for. [2]

Taxes may be displayed in-line or as a total. I don't believe it 
matters. We normally just show it as a single item at the bottom of the 
invoice but taxes are applied per line.

Services are almost always taxable.

Sales within the EU are accounted for (taxed) differently than sales to 
the rest of the world.

Taxes are per line item.

[1] http://www.hmrc.gov.uk/vat/managing/charging/discounts-etc.htm
[2] http://www.hmrc.gov.uk/vat/start/introduction.htm


Alan



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