Setting up tax codes to use with OSS/IOSS reporting

Summary

This guide explains how to set up tax codes for each country in Sage 50 Accounts, when using OSS/IOSS reporting.

Description


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.

Resolution

This short video shows you how:

 

NOTE: Before you can set up your OSS/IOSS tax codes you need to enable OSS/IOSS reporting >

  1. Click Settings then click Configuration.
  2. Click Tax Codes, select the required Code then click Edit.

    TIP: You can use any free code you're not already using, however we recommend using a range that has a number of free tax codes together.

  3. Enter the following details:
    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.  
     Image

  4. Click OK, then click OK.

How do OSS/IOSS tax codes affect my VAT Return?

Find out how the OSS/IOSS tax codes affect your VAT Return:


Next steps

Once you've created your OSS/IOSS tax codes you're ready to post your OSS/IOSS transactions >



Solution Properties

Solution ID
210518100808730
Last Modified Date
Mon May 15 08:46:47 UTC 2023
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