Configuring iMIS for VAT

Note: VAT has a separate license key. You must be licensed for VAT to enable it as a taxation method.

Implement your VAT configuration in the order documented below:

  1. Enabling VAT for the default organization — gives you access to the VAT options in iMIS.

    2. Note: Enabling VAT automatically disables the Default or Canadian taxation method for an organization. The VAT and Canadian taxation methods are mutually exclusive.

  2. Defining VAT and intrastate country codes — lets you verify that the codes are correct for your needs before you do any configuration based on this table.
  3. Defining VAT tax categories— lets you set up the tax categories that you need iMIS to use.
  4. Defining VAT tax codes — lets you set up the tax codes that you need iMIS to use. If these tax codes are missing from the Product_Tax table, any taxes calculated equal zero.
  5. Configuring financial entities for VAT — lets you set company information (such as registration codes and numbers) for each organization that will collect VAT.
  6. Setting up Company Flow Down for VAT — so that VAT tab data for the company contact flows down to company members.
  7. Configuring VAT options in AR/Cash — lets you select options for calculating taxability and including VAT in pricing and fees.
  8. Defining VAT Rules for Events — lets you add special rules for your virtual and other-country events.
  9. Finally, verify that the Default country for your website (RiSE > Set up web components > General configuration) matches the VAT Country you selected for your Default Organization in Desktop System Setup.

More:
Enabling VAT for the default organization
Defining VAT and intrastate country codes
Defining VAT tax codes
Configuring financial entities for VAT
Setting up Company Flow Down for VAT
Configuring VAT options in AR/Cash
Defining VAT Rules for Events