Reverse charge VAT rate option for all regions
It is now a requirement in our region to apply a reverse charge VAT to purchases from non-resident suppliers.
To comply with this, we need our accounting system to be able to:
- Calculate output VAT on qualifying imported services
- Claim input VAT where recovery is permitted
- Post to the correct VAT general ledger accounts
- Report correctly on the VAT return
I understand from Xero support that this VAT rate is currently only available for the UK region. However, it is vital for Xero to add the reverse charge VAT feature globally, as this requirement is likely to apply to more countries in the future.
Please pass this feedback along to your product team so this feature can be implemented globally as soon as possible.
Maria Domenici
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