Dynamics NAV tax reporting

Value-Added Tax (VAT) is a tax on consumption that is paid by the end consumer. VAT is calculated on sales and purchases and reported to the tax authorities periodically.

In Dynamics NAV, VAT is calculated on sales and purchases invoices and credit memos. When the documents are posted, new VAT entries are created that will be used later on to report VAT to the authorities.

• ·         All that is needed is to setup Dynamics NAV correctly
• ·         Capture sales and purchases
• ·         Run the VAT report
• Dynamics updates the VAT record in real time every time a new entry is posted.  

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