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The European Commission has spent a great deal of effort on administrative tax harmonisation, and this harmonization is the main focus of the latest version of the EU VAT directive, which aims to achieve better harmonization and support electronic trade documents, such as electronic invoices used in cross border trade, especially within the ...
The QuickBooks UK edition also includes support for Irish and South African VAT. QuickBooks Enterprise was withdrawn from the UKI market in 2014. QuickBooks Desktop is only available on a rental/subscription basis for users in UK and Ireland, and is to be withdrawn from sale with no desktop software replacement with the final version being the ...
A value-added tax identification number or VAT identification number (VATIN [1]) is an identifier used in many countries, including the countries of the European Union, for value-added tax purposes. In the EU, a VAT identification number can be verified online at the EU's official VIES [2] website. It confirms that the number is currently ...
Furniture, fixtures, and equipment (or FF&E) (sometimes Furniture, furnishings, and equipment [1] [2]) is an accounting term used in valuing, selling, or liquidating a company or a building.
Liberty was the first online accounting provider to offer VAT functionality, including transactions such as European Union acquisitions, and production of the European Community Sales List (form VAT 101). Standard and cash accounting VAT schemes are supported, as well as flat-rate VAT (calculated on a transaction basis). [5]
The existing general sales tax laws were replaced with the Value Added Tax Act (2005) and associated VAT rules. A few states (Gujarat, Tamil Nadu, Rajasthan, Madhya Pradesh, Chhattisgarh, Jharkhand, Uttarakhand and Uttar Pradesh) opted to stay out of VAT taxation system during the initial introduction of VAT but adopted it later.
EU VAT Tax Rates. The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt in national legislation a value added tax that complies with the EU VAT code.
Accounting software provides many benefits such as speed up the information retrieval process, bring efficiency in Bank reconciliation process, automatically prepare Value Added TAX (VAT) / Goods and Services TAX (GST), and, perhaps most importantly, provide the opportunity to see the real-time state of the company's financial position.