When using OSS/IOSS reporting, to make it easier to process transactions and give you flexibility when you run reports, we recommend setting up separate tax codes for each different tax rate within each country.
EXAMPLE: If you trade with Germany, where they have three rates, Zero, Reduced and Standard, for both goods and services, you set up six different tax codes for use with Germany only.
This short video shows you how:
NOTE: Before you can set up your OSS/IOSS tax codes you need to enable OSS/IOSS reporting >
Enable Import/Export Code (UK) or Enable EC Code (ROI) | Select this checkbox. |
OSS/IOSS code | Select this checkbox. |
NOTE: If this option is not showing, you must first enable OSS/IOSS reporting. | |
Goods/Services drop-down | Select whether the tax code is for Goods or Services. |
Rate | Enter the rate for this tax code. |
Description | Enter a description to help you identify this tax code. |
EXAMPLE:
NOTE: In ROI, the Enable Import/Export Code is replaced with Enable EC Code. The rate and Resale options can be ignored.
Find out how the OSS/IOSS tax codes affect your VAT Return:
Once you've created your OSS/IOSS tax codes you're ready to post your OSS/IOSS transactions >