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EU-VAT

Ready Bytes PayPlans [email protected]

Description

calculate personal and business taxes as per European Union value added tax (or EU VAT) system

This app allows you to calculate personal and business taxes as per European Union value added tax (or EU VAT) system.

A value added tax (VAT) is a consumption tax added to a product's sales price. It represents a tax on the "value added" to the product throughout its production process.

Features :

  • VAT is levied on both the producer and consumer while a sales tax is levied on only the end consumer. VAT is applied at the various stages of production while sales tax is applied on the total value of the purchase.
  • VAT is charged when a VAT-registered business sells to either another business or to a non-business customer.
  • When VAT-registered businesses buy goods or services they can generally reclaim the VAT they've paid.
  • Option to Set "All" Countries during configuration of an App.
  • Categories different personal and Business Tax Rate on the basis of Subscribed Plans and Buyer's Countries in App.
  • Verified entered vat id is valid or not. If not then Personal Tax rate will get applied.
  • VAT is levied on both the producer and consumer while a sales tax is levied on only the end consumer.

Working :

  • Eu Vat is considered as Payplans core app. Need to Install it from App store.
  • Euvat and Basic Tax app won't work simultaneously. Recommended to use only one at a time.
  • Enter input tax rate in percentage (%) as personal and business tax rates.
  • Set verification of Vat Id to Yes if required.

Categories

PayPlans Tax and Discount
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Documentation Link : http://www.readybytes.net/payplans/documentation/eu-vat.html

EU-VAT