What goes into each box -South Africa VAT Report
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 South Africa VAT Report.
|
Description |
Box |
Amount |
Box |
Amount |
|---|---|---|---|---|
|
A. CALCULATION OF OUTPUT TAX AND IMPORTED SERVICES |
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|
Supply of goods and/or services by you |
||||
|
Standard Rate (excluding capital goods and/or services and accommodation) |
1 |
Gross amount of sales S |
4 |
(Box 1)*[tax rate / (100 +tax rate)] |
|
Standard Rate (only capital goods and services) |
1A |
Gross amount of sales SC |
4A |
(Box 1A)*[tax rate / (100 +tax rate)] |
|
Zero Rate (excluding goods exported) |
2 |
Net amount of sales Z |
|
|
|
Zero Rate (only exported goods) |
2A |
Net amount of sales O |
|
|
|
Exempt and non-supplies |
3 |
Net amount of sales E |
|
|
|
Supply of accommodation |
||||
|
Exceeding 28 days |
5 |
Editable field |
|
|
|
6 |
Editable field |
|
|
|
|
Value Not Exceeding 28 days |
7 |
Editable field |
|
|
|
Total: (6+7) |
8 |
Editable field |
9 |
Editable field |
|
Adjustments |
||||
|
Change in use and export of second-hand goods |
10 |
Editable field |
11 |
(Box 10)*[tax rate / (100 +tax rate)] |
|
Other and imported services |
|
|
12 |
Editable field |
|
Total A: TOTAL OUTPUT TAX (4+4A+9+11+12) |
13 |
Box 4+4A+9+11+12 |
||
|
B. CALCULATION OF INPUT TAX |
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|
Capital goods and/or services supplied to you |
14 |
Tax amount of purchases SC |
||
|
Capital goods imported by you |
14A |
Tax amount of purchases I |
||
|
Other goods and/or services supplied to you (not capital goods) |
15 |
Tax amount of purchases S |
||
|
Other goods imported by you |
15A |
Editable field |
||
|
Adjustments |
||||
|
Change in use |
16 |
Editable field |
||
|
Bad debts |
17 |
Editable field |
||
|
Other |
18 |
Editable field |
||
|
TOTAL B: TOTAL INPUT TAX (14+14A+15+15A+16+17+18) |
19 |
Box 14+14A+15+15A+16+17+18 |
||
|
VAT PAYABLE / REFUNDABLE (Total A -Total B) |
20 |
Box 13-19 |
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