What goes into each box – Italy VAT Report

Note:

Nondeductible tax codes created by checking the 100% Non-deductible box on the Tax Code page is not supported. If you want to create nondeductible tax codes that will work with International Tax Reports SuiteApp, see Setting Up Nondeductible Input Tax.

The following table shows how NetSuite uses the tax codes to get the values for the Italy IVA 2011 Information report.

Box/Line Number	Description	Rate	Taxable Amount	VAT	Notional Tax
Calculations towards business turnover
VE22	Taxable sales within the State	Rate of S-IT	Sales net amount of S-IT	Sales tax amount of S-IT + Tax amount of sales adjustment in box VE22 with S
VE21	Taxable sales within State at reduced rate	Rate of R-IT	Sales net amount of R-IT	Sales tax amount of R-IT + Tax amount of sales adjustment in box VE21 with R
VE20	Taxable sales with State at super reduced rate	Rate of SR-IT	Sales net amount of SR-IT	Sales tax amount of SR-IT + Tax amount of sales adjustment in box VE20 with SR
	Total VE20 + VE21 + VE22
VE30	Intra-community Sales-Goods	Rate of ES-IT	Sales net amount of ES-IT
	Intra-community Sales-Services	Rate of ESSS-IT	Sales net amount of ESSS-IT
	Supply of Goods - exports to non-EU countries	Rate of O-IT	Sales net amount of O-IT
	Supply of Services - non-EU countries	Rate of OS-IT	Sales net amount of OS-IT
VE33	Exempt operations	Rate of E-IT	Sales net amount of E-IT
VE34	Operations subject to reverse charge	Rate of RC-IT	Sales net amount of RC-IT
VE32	Taxable sales - zero rated	Rate of Z-IT	Sales net amount of Z-IT
	Non-taxable operations	Rate of U-IT	Sales net amount of U-IT
	Business Turnover (sum of above) VE20 + VE21 + VE22 + VE30 + VE33 + VE34 + VE32
Purchases - Domestic, Intra-Community and Imports
VFX	Non-Deductible purchases		Non-deductible purchase net amount	Non-deductible purchase tax amount
VF11	Taxable domestic purchases	Rate of S-IT	Purchase net amount of S-IT	Purchase tax amount of S-IT + Tax amount of purchases adjustment in box VF11 with S
VF9	Taxable domestic purchases at reduced rate	Rate of R-IT	Purchase net amount of R-IT	Purchase tax amount of R-IT + Tax amount of purchases adjustment in box VF9 with R
VF2	Taxable domestic purchases at super reduced rate	Rate of SR-IT	Purchase net amount of SR-IT	Purchase tax amount of SR-IT + Tax amount of purchases adjustment in box VF2 with SR
	Reverse Charge – in country	Rate of RC-IT	Purchase net amount of RC-IT		Purchase notional amount of RC-IT
VF12	Taxable purchases – zero rated	Rate of Z-IT	Purchase net amount of Z-IT
VF13	Other non-taxable purchases	Rate of U-IT	Purchase net amount of U-IT
VF14	Exempt purchases	Rate of E-IT	Purchase net amount of E-IT
VF23	Intra community purchases of goods	Rate of ES-IT	Purchase net amount of ES-IT		Purchase notional amount of ES-IT
	Intra community purchase of services (reverse charge)	Rate of ESSP-IT	Purchase net amount of ESSP-IT		Purchase notional amount of ESSP-IT
	Import of Goods – non-EU	Rate of I-IT	Purchase net amount of I-IT	Purchase tax amount of I-IT
	Purchases of services – non-EU	Rate of IS-IT	Purchase net amount of IS-IT		Purchase notional amount of IS-IT

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