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Configure VAT/ICP

VAT codes and sections are supplied by default with Profit. In this part you can find all details about the configuration.

If you do business with foreign companies or organisations within the EU, then you must also submit an ICP declaration. Depending on your settings, Profit generates the ICP declaration automatically, at the same time as the VAT declaration.

If you provide goods and services to other EU countries, without sending an invoice, then you must maintain an ICP register. This occurs if you have international branches to which you deliver goods/services. You must also indicate other invoice-free activities on an ICP declaration. Some examples here would be moving a hoisting crane across a border, or having work performed in a foreign country for which goods are transported across the border and then back again. An example of the latter scenario would be transporting winter coats to Poland for processing. Buttons are put on there, and then the finished winter coats are sent back.

You configure all the settings necessary for a proper registration of VAT amounts and the preparation of the VAT declaration. If you want to send the VAT declaration to the tax authority electronically, you must also configure the exchange with the tax authority.

Profit has a ready-made VAT coding structure and allocation to sections which is why these activities are not described any further in detail.

Note:

For each administration, you determine the country whose VAT/legislation you want to apply. Profit only supports the VAT configuration of the Benelux countries and the Netherlands Antilles. For other countries, you can configure the VAT as required.

Content

Description

The country whose legislation is applied is fixed for each administration. This country determines the VAT codes, VAT rates and VAT sections used to calculate the final amounts for the VAT declaration.

If you are exempt from VAT, then set this in the configuration. Once this is done, you do not need to set anything else.

For a foreign VAT declaration or a declaration for a fiscal unit, a different procedure is used, in which you configure everything at the environment level first.

Below you see a diagram of the configuration of the VAT in Profit:

Fin_BTW-sectie 1

The general procedure for configuring the Dutch VAT/ICP declaration is given below.

If you configure your first and only administration and you have a Dutch licence, the legislative country is usually the Netherlands. You can add administrations and record the legislative country immediately. In the financial administration settings, record your VAT number and the declaration periods for the VAT and ICP declarations.

Next, you configure the VAT accounts and the rate groups with the VAT rates. In the VAT codes, record the transaction type for each VAT code and link the VAT accounts, etc. The VAT sections are arranged like the sections on the VAT declaration form. The sections for the Dutch declaration have been configured. You can configure sections yourself where needed. When you are actually going to submit a declaration, Profit automatically completes the VAT sections based on the linked VAT codes. There is one exception to this: you may have to enter your VAT sections manually, for example if you are using the 'kleine ondernemersregeling'.

Record specific VAT settings for your debtors and creditors and for the items.

Next, submit the declaration. You can decide to pay the declaration automatically after this. You must configure this yourself.

The configuration for the declarations of a fiscal unit and for abroad deviate somewhat from the default configuration. This is discussed separately.

Procedure

Also see

Process

VAT/ICP declaration