ERP and Business

The VAT increase in OpenERP

1 min read

Quick summary

OpenERP’s VAT update introduces the new 21% and 10% rates and requires the taxes on products and on affected sales and purchase documents to be reviewed. Draft invoices and default taxes linked to accounting accounts still need a manual check, while the exact date for applying the change had yet to be clarified.

Contents

OpenERP VAT increase

We have already started informing all our customers about the steps we will take and when the new 21% and 10% VAT taxes announced by the government will be available in their OpenERP installations.

The new taxes will be available this week, and from next Monday we will be available to help update taxes in products and in the sale and purchase orders that require changes. It has not yet been clarified exactly when the new taxes must be applied, but we will be ready to help our customers with any needs that arise.

Users will only have to review draft invoices manually and default taxes associated with accounts.

Frequently asked questions

Which new VAT rates are announced?

The article announces that the new 21% and 10% rates will be available in OpenERP installations.

Which items need to be updated?

The taxes on product records and on any affected sales and purchase documents must be reviewed.

What must be checked manually?

Possible draft invoices and the default taxes associated with accounting accounts must be checked manually.

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