VAT Configuration
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Short Description
Value Added Tax (VAT, also GST) is a consumption tax government levied on the amount added by a company to the price of goods or services as value is added, i.e. at each step of their production and distribution.
The VAT Configuration section includes the VAT Codes and VAT Rates modules. In Dataloy VMS VAT can be added to an invoice line but it requires that a VAT record with both code and rate has first been added. A VAT rate can be defined as the per cent used when calculating the VAT amount of an invoice line and is linked to a VAT Code in order to identify rate and VAT Category (i.e. Input- or Output tax).