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Reduction of value added tax in the economic stimulus package
We support you with the implementation in your Microsoft Dynamics system
On the 3rd of June, as part of its economic and crisis management package, the governing coalition announced that it would reduce the sales tax rates from 19% to 16% and from 7% to 5% from 1.7.2020 to 31.12.2020. This change applies to all companies. However, this measure, which at first glance appears to be positive for the economy, raises questions, especially in financial accounting.
What does this mean for you as a Microsoft Dynamics user?
Which processes in your ERP system are affected?
How can the change in VAT rates be implemented in your Dynamics system?
For Microsoft Dynamics 365 Business Central and from the version Dynamics NAV 2013 Microsoft provides a function for changing the VAT rates in the standard system.
However, various processes such as partial deliveries, service contracts, advance payments or special features such as interfaces to subsystems or web shops require a special handling. Here, an individual discussion of your project specifics is required.
For Microsoft Dynamics versions older than NAV 2013, no VAT change functionality is provided by Microsoft, even if the Enhancement Plan is running. In this case we offer you the development of an individual solution.
Our solution team for finance and controlling will be happy to support you with our many years of experience in this area in the conversion of the VAT rates in your Dynamics system.
Please contact us, we will be happy to advise you.
What does this mean for you as a Microsoft Dynamics user?
Which processes in your ERP system are affected?
How can the change in VAT rates be implemented in your Dynamics system?
For Microsoft Dynamics 365 Business Central and from the version Dynamics NAV 2013 Microsoft provides a function for changing the VAT rates in the standard system.
However, various processes such as partial deliveries, service contracts, advance payments or special features such as interfaces to subsystems or web shops require a special handling. Here, an individual discussion of your project specifics is required.
For Microsoft Dynamics versions older than NAV 2013, no VAT change functionality is provided by Microsoft, even if the Enhancement Plan is running. In this case we offer you the development of an individual solution.
Our solution team for finance and controlling will be happy to support you with our many years of experience in this area in the conversion of the VAT rates in your Dynamics system.
Please contact us, we will be happy to advise you.