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Handling of new EU VAT rules

by OskarÅkerlund

Starting in July 2021, merchants in EU might have to use the VAT rates of the recipient country in the sales transaction. For example, if a german consumer orders a t-shirt from a swedish merchant, the VAT rate 19% should be used in the purchase instead of the regular swedish rate of 25%, given that the merchant reaches above the EU-wide threshold of EUR 10 000: https://ec.europa.eu/taxation_customs/business/vat/oss_en

 

In our integration, we are creating salesorders. If an article does not exist, we will create it and assign an itemClass based on the regular swedish VAT rate (25, 12, or 6). We will also create a customer and assign a customerClass. But how should we handle the EU threshold? Will this all be handled automatically in Visma.net? Is there anything we have to consider changing in the integration?

1 REPLY 1
Yıldırım
VISMA

by Yıldırım (Updated ‎19-05-2021 16:22 by Yıldırım VISMA )

Hello, 


In Visma.net ERP Financials, the system automatically performs VAT calculation based on what has been configured in the ERP. Those details should be covered in the company that your integration working with.

following process documentation can be helpful. 
How to set up Vat calculation
-About VAT calculation

-Set up VAT calculation
-About prerequisites and preparation