Tax - Multi-VAT tracking for EU companies
Ability to have multi-VAT tracking for EU companies.
Purpose: Because lots of companies in the UK are also registered VAT in other EU countries. So having this feature will make users easily calculate their tax.
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Juliet Lee commented
I do not want to use Xero to prepare or submit a second (EU) VAT Return. All I want to do is attach a different VAT liability account to the OSS and Dutch21% Sale transactions so they do not go to the main UK VAT liability account. Otherwise I have to review the UK VAT account and extract anything that isn't UK related. Surely it is possible to program a different VAT account attached to a tax rate? Please forward for programming consideration.
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Julie Clift-Thompson commented
Yes, yes, yes! We're considering moving away from Xero just because of the absence of multi region vat return submission!
Please add this !
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Nick Navarra commented
Hi Xero. It is insane that all tax codes get linked to the one GST account. Many companies these days operate in multiple jurisdictions or have GST/VAT reporting obligations in multiple countries. We are not talking about branch operations here so please don't suggest having a separate Xero file. What you need to do is allow each tax code to be linked to a specific account code (e.g Australian GST linked to account X, French VAT linked to account Y, etc). Having all these different VAT/GST amounts go to the one account is insane. Please fix - this cant be that hard (cringe, but MYOB have allowed this fore ever!).
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Seth Johnson commented
Did this ever happen?