Turnover reports for GST/VAT
Posted: Thu Mar 22, 2012 3:01 am
Many countries have annual turnover thresholds below which it is optional not to register for General Sales Tax or Value Added Tax.
(In New Zealand, it's currently NZ$60,000 per annum, in Australia and the UK much more generous at A$75,000 and £73,000 respectively and in Ireland it varies - being currently 75,000 Euro for Goods, 37,5000 Euros for Services, 41,000 for ICAs and 35,000 for Distance Sales.
Further EU details here:
http://ec.europa.eu/taxation_customs/re ... annexi.pdf)
Many small users may want to avoid the pains of bureaucratic form filling and the uncompetitiveness of having to boost their prices with these taxes, so could we have a report that gives a running total of turnover for a current period?
I envision something that allows you to put in a start date and a finish date (perhaps keeping the start date "sticky" and defaulting to the current date for the finish date?) and then producing a global figure that sums all the active "quoted price" fields.
This will produce a quick and dirty estimate erring on the side of caution (since in some cases of channel manager bookings imported, eg Wotif, the nett figure received from agents will be less than the gross figure appearing in the "quoted price" field...)
(In New Zealand, it's currently NZ$60,000 per annum, in Australia and the UK much more generous at A$75,000 and £73,000 respectively and in Ireland it varies - being currently 75,000 Euro for Goods, 37,5000 Euros for Services, 41,000 for ICAs and 35,000 for Distance Sales.
Further EU details here:
http://ec.europa.eu/taxation_customs/re ... annexi.pdf)
Many small users may want to avoid the pains of bureaucratic form filling and the uncompetitiveness of having to boost their prices with these taxes, so could we have a report that gives a running total of turnover for a current period?
I envision something that allows you to put in a start date and a finish date (perhaps keeping the start date "sticky" and defaulting to the current date for the finish date?) and then producing a global figure that sums all the active "quoted price" fields.
This will produce a quick and dirty estimate erring on the side of caution (since in some cases of channel manager bookings imported, eg Wotif, the nett figure received from agents will be less than the gross figure appearing in the "quoted price" field...)