This should be possible to do so in the Danish localization and I would think that this could be useful in al european localizations.
It should also be possible in General Journal, Purchase Invoice / Credit Memo to set up Non-deductiable VAT Percentage.
Comments
We have the same case in Poland. We did not include this into our Starter Pack app but we need to consider this functionality to our next version. It will be very helpful to have it in W1. PLease find below short introduction to this functionality:
General Information
In some cases, it is not possible to deduct the full 100% purchase VAT amount, which means that only a part of the VAT amount can be included in the VAT register and the remaining part should be added to the purchase amount and posted as costs. For item or fixed asset purchases, non-deductible part of the VAT amount is added to the purchase value of an item or fixed asset and it is posted as a part of the purchase cost.
Polish Functionality for Microsoft Dynamics® NAV 2018 has been enhanced with this feature to enable users to:
• Set up the partial deduction of a calculated VAT amount;
• Post a purchase transaction including the calculated VAT amount which is partially deductible;
• Increase the acquisition cost of items and fixed assets by purchase VAT which was not deducted.
In case of any questions please let me know.
Regards
Wojciech
Category: Geographies and Localization
Hi,
It is also important issue in France which is using non-deductible % VAT on GL account
but also for Fixed assets !
And in France but I suppose in other UE countries :
- we can have several different % by company
- and for each one preview % for all year and the final % is only knowing at the end of year
- then we need to adjust with all such transaction for this year to apply global adjustment for the difference.
Available for more information.
Laurent
Category: Geographies and Localization
This is indeed a function in the Belgian Localization. But also in the Italian Localization, you have a function to manage this. So I think Microsoft could review that and bring that function to the W1-versions.
Category: Geographies and Localization
Non-Deductible VAT is also relevant for Latvia and Lithuania.
Category: Geographies and Localization
Business Central Team (administrator)