VAT - Value Added Tax - levies on the following operations of Portuguese market:
VAT has different fees for invoice ancillary values: freight, insurance, taxed ancillary expenses, and tare. Thus, VAT of goods and services as well as VAT of each one of ancillary values are calculated and saved separately, enabling each value calculated to be identified in the document.
Legislation Contemplated:
For further information, check:
http://info.portaldasfinancas.gov.pt/pt/informacao_fiscal/codigos_tributarios/civa_rep/index_iva.htm
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Procedures
Protheus provides all basic configurations of Variable Taxes and TIO for VAT. If you need to add new configurations, check the registers:
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Example of configuration of Variable Taxes:
Tax | Tax Code | Inflow Formula | Outflow Formula | Tax Record Field | Fee % |
VAT of Goods | VAT | M100IVAI | M460IVAI | 1 | 21 |
Freight VAT | IVF | M100IVAI | M460IVAI | 3 | 21 |
2. In TIO - Type of Inflow and Outflow, VAT calculation must be indicated.
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Important: If the operation is exempt from VAT, the customer or supplier must be registered with the content of the field Type equal to 3 - VAT Exemption: natural person, or 4 - VAT Exemption: legal entity. Thus, VAT value that was going to be calculated is registered as exempt now. If you need to consider a customer or supplier that is not exempt in a specific operation as exempt, VAT Plan enables the exemption configuration to be made. |
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