Automatic Tax Record Provisioning for VAT Countries
The SuiteTax Engine creates your tax records when you select SuiteTax as your tax engine. This is because SuiteTax gives you the flexibility to use different tax engines per nexus.
You must create a nexus before proceeding. In creating a nexus, you can leave the Tax Agency field blank, because the SuiteTax Engine provisions this record as a part of the tax records. For more information, see Setting Up Nexuses in SuiteTax.
To begin provisioning your tax records, assign a tax registration to the subsidiary or company in SuiteTax. See Assigning Tax Registrations to a Subsidiary in SuiteTax for details.
To ensure that tax record provisioning for your subsidiary begins, you need to assign another SuiteTax Engine permission to your subsidiary. The permission name is SuiteScript Scheduling. Without this permission, the subsidiary cannot be saved and tax record provisioning fails to begin.
Do not delete system generated tax accounts, as they will be created again during the monthly update. You can inactivate, rename the accounts according to your needs, or create a new account and assign it to your related tax types.
To view the full list of countries supported by NetSuite for monthly tax rates updates, see Countries Supported for Tax Rate Updates in the SuiteTax Engine
To assign the SuiteScript Scheduling permission:
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Go to Setup > Users/Roles > Manage Roles.
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Click the Customize button next to the relevant role.
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On the Permissions subtab, click the Setup button.
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Select the SuiteScript Scheduling permission from the Permission list.
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Ensure that the permission level is set to Full.
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Click Add.
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Click Save.
By assigning SuiteTax as your tax engine for your subsidiary, the SuiteTax Engine creates the following tax records:
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Vendor record for the Tax Agency
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Accounts to post tax on sales and purchases
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Nexus default tax codes
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Tax Types
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Tax Codes (if applicable):
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Standard
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Reduced
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Zero
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Exempt
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Reverse charge
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Reverse charge for sales
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The records are based on the currently selected nexus.
For more information on these records, see Tax Records in SuiteTax.
Running Tax Record Provisioning Manually
For OneWorld accounts, the tax records provisioning is executed automatically after you assign SuiteTax to the subsidiary's registration. For single instance accounts, you must run provisioning manually.
To run tax record provisioning manually for single instance edition accounts:
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Go to Setup > SuiteTax Engine > Tax Engine Data Provisioning.
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Check the box of the nexus for which you want to create tax codes.
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Click Run Data Provisioning.